Foreclosures spike as banks ramp up repossessions

[dmcowen674]

11-13-2014

https://homes.yahoo.com/news/foreclosures-spike-banks-ramp-repossessions-114000770.html

Foreclosures spike as banks ramp up repossessions



More than five years after the foreclosure crisis began, the number of borrowers losing their homes is rising again.


Foreclosure filings, which include default notices, scheduled auctions and bank repossessions, were reported on 123,109 properties in October, according to RealtyTrac, a foreclosure sales and data company. That is a 15 percent increase from September, and the largest monthly increase since the peak of the crisis in March of 2010.


Among the nation's top 20 metropolitan housing markets, Miami, Tampa, Baltimore, Riverside-San Bernardino and Chicago had the highest foreclosure rates, according to RealtyTrac. Investors have been moving to these markets from former foreclosure hot spots, like Phoenix and Las Vegas.

 

[dmcowen674]

Sad how housing has become just as much of a political football as ACA.

 

[hal2kilo]

11-13-2014

https://homes.yahoo.com/news/foreclosures-spike-banks-ramp-repossessions-114000770.html

Foreclosures spike as banks ramp up repossessions



More than five years after the foreclosure crisis began, the number of borrowers losing their homes is rising again.


Foreclosure filings, which include default notices, scheduled auctions and bank repossessions, were reported on 123,109 properties in October, according to RealtyTrac, a foreclosure sales and data company. That is a 15 percent increase from September, and the largest monthly increase since the peak of the crisis in March of 2010.


Among the nation's top 20 metropolitan housing markets, Miami, Tampa, Baltimore, Riverside-San Bernardino and Chicago had the highest foreclosure rates, according to RealtyTrac. Investors have been moving to these markets from former foreclosure hot spots, like Phoenix and Las Vegas.

The servicers have probably run out of anymore games to play, so they are doing what they should have a couple of years ago.

 

[Jaepheth]

with a recovering economy the houses are worth taking again.

 

[DrPizza]

I've been waiting for a house down the street for me to go up for sale. It's been vacant for nearly 5 years, owned by the bank. Needs a lot of work. I've been waiting for the bank to put it on the market.

 

[RearAdmiral]

I've been waiting for a house down the street for me to go up for sale. It's been vacant for nearly 5 years, owned by the bank. Needs a lot of work. I've been waiting for the bank to put it on the market.

Buying a foreclosure rules!

 

[PricklyPete]

The banks had no motivation to foreclose when the economy/realestate market was in shitter. Now is a good time to try and recoup.

 

[Sinsear]

The banks had no motivation to foreclose when the economy/realestate market was in shitter. Now is a good time to try and recoup.

Yep

 

[cabri]

I've been waiting for a house down the street for me to go up for sale. It's been vacant for nearly 5 years, owned by the bank. Needs a lot of work. I've been waiting for the bank to put it on the market.

Initiate contact with the bank on the property.

 

[DrPizza]

Initiate contact with the bank on the property.

How do you find out which bank holds a property? Tax maps still have the guy's name who was foreclosed on.

 

[Fern]

How do you find out which bank holds a property? Tax maps still have the guy's name who was foreclosed on.

I'd go to the court house, have them look up that guy's name (foreclosed guy who is still on tax list) and find the foreclosure case. The bank's name would likely be listed.

Fern

 

[Spungo]

Buying a foreclosure rules!

pay for the house, get the dead body for free