Real Estate Articles

Foreclosure counselors in the Buckeye State responded to hotline calls and counseled more than 3,000 homeowners in the first years of service. Calls have increased from 400/month in 2006 to 600/month in 2007

"Yeah, people got bad mortgages. But others were able to finally buy a home" begins a recent article in a national magazine, repeating the common assumption that subprime mortgage lending has helped increase the overall level of homeownership. A new analysis shows that while the subprime market has produced more than $2 trillion in home loans over the past 9 years, these loans lead to a net LOSS of homeownership for almost 1 million families.

Nevada, Colorado, and Connecticut posted the highest foreclosure rates for April, 2006, with Nevada at the top of the list with one foeclosure filing for every 232 households.

RealtyTrac reports more than 430,000 foreclosure filings in its 2007 first quarter market report. The nation's forecosure rate is one forelcosure filing for every 264 households.

Foreclosure filings in five states account for half the nation's total of almost 150,000 filings in March, 2007 -- California, Florida, Texas, Michigan and Ohio. The foreclosure rate is one filing for every 775 households in the United States.

Peter Miller predicts that lawmakers will not mandate a ban on foreclosures this year, but says that the issue will remain a "hot button" with voters in the next election cycle.

A powerhouse search engine has partnered with the leading online marketplace for foreclosure propertiesm integrating mapping technology, foreclosure trends, and news.

Author Peter Miller says that safer lending practices may make it more difficult to obtain some types of loans, but the recent decision by Freddie Mac to limit purchase of subprime notes augurs a safer lending harbor for credit challenged borrowers.

Foreclosures are up 12% from a year ago; the states posting the highest foreclosure rates are Nevada, Colorado, and Florida. The states posing the highest number of foreclosures are Florida, California, and Texas.

Texas broker Eric Bramlett offers advice to buyers looking for deals on government owned homes available from the U.S. Dept. of Housing and Urban Development.