Articles filed under Foreclosures
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Bank repossessions hit 9-month high in November
Dec 13, 2012 6:39 AM - U.S. home repossessions rose to a nine-month high in November, even as the number of homes starting on the path to foreclosure declined to the lowest level in six years. Banks completed foreclosure on 59,134 homes last month, an increase of 11 percent from October and up 5 percent from November last year, foreclosure listing firm RealtyTrac Inc. said Thursday. -
Foreclosure starts fell on annual basis in August
Sep 13, 2012 6:37 AM - The evolution of the U.S. foreclosure crisis is increasingly diverging along state lines. On a national level, fewer homes were placed on the foreclosure track last month than in August last year, when they hit a 17-year high, foreclosure listing firm RealtyTrac Inc. said Thursday. -
Charities help pets when foreclosure victims can't
Jul 29, 2012 6:55 AM - Various charities around the country help pets when foreclosure victims can't. Some also work with the unemployed and those too ill or old to handle their pets, but about 30 percent of their pets are foreclosures. -
Housing crisis sees 1.5 million older americans lose their homes
Jul 22, 2012 6:18 AM - More than 1.5 million Americans aged 50 or more have lost their homes since the collapse of the housing market in 2007 as delinquency rates and foreclosures soar, according to advocacy group AARP. About 3.5 million loans, or one in six to people in the age group, had balances that were higher than the value of the property being purchased as of December, according to a report by Lori Trawinksi for the Washington-based lobby. -
Mortgage rates at historic lows, but it's harder to refinance
Jul 11, 2012 1:04 PM - Valeria and Milos Coric bought a home in Lincolnshire in 2002 and paid the monthly mortgage regularly. That devotion helped to build equity for them and stability for their two children. So when mortgage rates dropped to historic lows, they were eager to refinance, despite seeing the value of their home drop. But others can't take advantage of the low rates. A job loss, poor credit score or reduced home value have made it difficult or impossible to qualify for a new home loan. -
Elgin market shows job growth but steadily high foreclosuresJun 29, 2012 2:15 PM - While Chicago ranks among the top five job growth markets in the country, Elgin leads the way among submarkets in the region, according to data cited by Chris Huecksteadt of Metrostudy. The firm tracks housing and development information across the country and Huecksteadt, director of Metrostudy's midwest region, shared the latest findings with Elgin City Council members this week.
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Surge in Kane County foreclosures taxing to sheriff's officeJun 23, 2012 7:55 AM - A large bubble of foreclosures is beginning to move through the Kane County court system. It's so large the sheriff's office can't keep pace with the necessary paperwork. Officials debated the hiring or outsourcing of some of the clerical work Friday. Problem with that would be the loss of some of the $1 million worth of foreclosure revenue the county expects to receive from all that misfortune.
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FHFA seeks to limit buybacks to spur lending
Jun 19, 2012 7:12 PM - The Federal Housing Finance Agency, the regulator of Fannie Mae and Freddie Mac, plans to help banks avoid being forced to buy back mortgages as it becomes concerned that lenders are tightening standards even for the most creditworthy home buyers.The FHFA will detail flaws that would trigger a putback request, Stefanie Johnson, a spokeswoman for FHFA, said. -
Suburban foreclosures jump in May
Jun 15, 2012 12:39 PM - The month of May proved dramatic in the spike of foreclosure filings throughout the region -- especially for DuPage County with a massive 159 percent hike -- compared to a year ago, according to data released Thursday by RealtyTrac Inc. The firm also showed foreclosures up about 54 percent in Illinois. Other counties saw double-digit increases in May, compared to May 2011, including Kane County at 92 percent; Kendal at 93 percent, Will at 87 percent. Lake at 72 percent, and McHenry at 58 percent. -
DuPage hardest hit by foreclosuresJun 15, 2012 12:38 PM - Foreclosure filings rose dramatically in May throughout the region -- especially for DuPage County, with a massive 159 percent hike -- compared to a year ago, according to data released Thursday by RealtyTrac Inc.
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