Find Foreclosure Properties Articles

A survey conducted by real estate search engine Trulia.com and research firm RealtyTrac says that forty-seven percent of U.S. adults would probably consider buying a foreclosed home and eighty percent were worried with the uncertainties involved in purchasing foreclosure homes.

If you are an investor or a first-time homebuyer considering taking advantage of the low prices of properties, then check the following guidelines:

California-based RealtyTrac said that home foreclosure filings at the city of Illinois have skyrocketed to 31 percent this October—a big leap compared to the rates of Illinois foreclosure properties last year. On the national level, the rate of properties to foreclosure jumped to 25%. RealtyTrac said that the data means that one out of 452 homes has received a foreclosure notice.

With the continuing rise of foreclosures sweeping across the country, the federal government has decided to use billions of taxpayer’s money in prevention programs against foreclosures. This includes the FHASecure and Hope for Homeowners programs, which guarantees the refinancing of expensive mortgages that brought these homeowners into trouble and convert them into more affordable loans.

Mortgage rates in the U.S. have reached their lowest level in three years, but these rates have not been successful in reviving the depressed housing market due to the continued flooding of the market with foreclosed properties.

The government has taken a step to help ease the housing crisis the nation is experiencing today by bringing 30-year mortgage rates down to 4.5 percent. However, this would only be applicable to individuals planning of investing on a new home. Such a scheme can never address the already existing homeowners who are drowning in their mortgages. Neither is it addressing foreclosures at its roots.

For the first time since his election, President-elect Obama criticized the current administration for its lack of effective actions and countermeasures in stopping the flood of foreclosures that is hitting the nation.

Black Entertainment Television founder and owner of RLJ holdings, Robert Johnson announced to a group of bankers, housing activists and regulators Monday that he holds the solution to the lingering crisis of home foreclosures.

State and local officials released their list of 10 lenders, all carrying national names, who have recorded starts and auctions associated with foreclosure homes for the month of October and November in the New York metropolitan area.

More and more Chinese are joining tour groups especially organized for house-hunting and home-buying in the U.S. to take advantage of the bargain prices of foreclosed properties. The Chinese government has relaxed its U.S. visa and foreign investment regulations to enable its people to buy real properties abroad.