Now the supply is rising again because banks are determining that many homeowners don’t qualify for loan modifications and are completing more foreclosures. Home sales also have slowed in recent months.
Foreclosed properties now account for roughly a fifth of all homes listed for sale nationally.
via WSJ.com.
In January 2010, the delinquent unpaid balance for CMBS increased by another $4.3 billion, up to $45.94 billion from $41.64 billion a month prior.
In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: paying some of them to leave.
via NYTimes.com.
Authorities say a real estate agent has been convicted of fraud for stripping fixtures from his foreclosed home
via KPHO.
