Foreclosure News

Home price increases fade, Experts expect more foreclosures in coming year
By Sandra Guy
Chicago Sun Times
December 30, 2009

An economist and a broker said that no downfall in home prices is imminent after a report Tuesday showed that Chicago tied for second in month-to-month home-price declines among 20 major metropolitan areas.

Yet, experts agree that more foreclosures are likely in 2010 because the employment market is weak and prime-market homeowners have adjustable-rate mortgages with rates set to skyrocket nest year.

Why foreclosures rise even as the economy expands
About 1 in every 7 home loans was either past due or in foreclosure at the end of the third quarter. Here’s what you need to know about the continuing mortgage crisis.
By Luke Mullins of U.S. News & World Report

Foreclosure Rescue Still Bogged Down
The Wall Street Journal
By Ruth Simon
December 11, 2009

Fewer than 5% of borrowers participating in the Obama administration's foreclosure-prevention program, about 31,000 in all, have received permanent loan modifications, the Treasury Department said Thursday.

Within this website if you go to STUDENT RESOURCES then DEANS LIST SPECIAL REPORT to the FORECLOSURE RESEARCH TOOL you will find an amazing tool which will identify recent foreclosures by mapping them out on a birds-eye view of that property location.

This is a free service so it does not give the actual address; but with a little comparison of the view supplied & personal physical inspection of the area / street, it can easily be figured out.

Just go to the tool and put in the search zip code and the list and map will be displayed.

Paradise Lost for Wealthy Resort Novice
By Kris Hudson
The Wall Street Journal
December 7, 2009

ANGUILLA, British West Indies -- Robert Sillerman amassed a billion-dollar fortune buying and selling media and entertainment companies. Among his most successful deals: the purchase of television franchise "American Idol."

Mr. Sillerman's winning streak ended on an alluring stretch of beach on this tiny Caribbean island.

NEW YORK (CNNMoney.com) -- As foreclosure casualties mount, the Obama administration is expected to announce additional steps on Monday to get long-term help for troubled borrowers.

Under the new initiative, the government will provide more resources for borrowers and will partner with organizations to offer homeowners assistance, a Treasury Department spokeswoman said. The plan also calls for increased transparency and accountability on the part of loan servicers.

Fannie Looks to Level Foreclosed-Home Playing Field
By James R. Hagerty
The Wall Street Journal
November 25, 2009

Fannie Mae announced a program aimed at helping ordinary home buyers compete with investors for foreclosed homes.

Under the program, dubbed First Look, Fannie plans to consider offers only from potential owner-occupants and certain public-housing entities during the first 15 days in which a foreclosed home is on the market.

Players Shun Faded Stadium
Few Buyers Line Up for Silverdome in Depressed Pontiac, Detroit Lions' Old Home
By Christina S.N. Lewis
The Wall Street Journal
November 12, 2009

The empty Pontiac Silverdome, an 80,000-seat municipal stadium that once was home to the Detroit Lions, is up for auction -- and it is possible no one will bite.

Fannie Mae to Rent Foreclosed Homes Back to Borrowers
By Nick Timiraos
The Wall Street Journal
November 5, 2009

Fannie Mae plans to allow homeowners facing foreclosure to stay in their homes and rent them for up to one year as part of the latest effort to help troubled borrowers while keeping a glut of foreclosed properties from hitting the housing market.

It’s OK to Walk Away, A Law Professor Argues
By James R. Hagerty
The Wall Street Journal
October 30, 2009

Many Americans are enraged by the thought that some people are simply “walking away” from their homes—in other words, ceasing to make monthly loan payments and waiting for the lender to foreclose. How irresponsible! How unfair to those of us who do pay our bills!