|
|
News: Foreclosure rates surge, biggest jump in 5 years
Chile
,
Dominican Republic
,
Ecuador
,
El Salvador
,
Guatemala
,
MEXICO
,
USA
|
Foreclosure rates surge, biggest jump in 5 years
Author: Alex Veiga, MSNBC
Date: April 15 de 2010
A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report.
RealtyTrac Inc. said Thursday that the number of U.S. homes taken over by banks jumped 35 percent in the first quarter from a year ago. In addition, households facing foreclosure grew 16 percent in the same period and 7 percent from the last three months of 2009.
Homeowners continue to fall behind on payments because they've lost their job or seen their mortgage payment rise due to an interest-rate reset. Many are unable to refinance because they now owe more on their loan than their home is worth.
The Obama administration's $75 billion foreclosure prevention program has only been able to help a small fraction of troubled homeowners.
About 231,000 homeowners have completed loan modifications as part of the Obama administration's flagship foreclosure prevention program through March. That's about 21 percent of the 1.2 million borrowers who began the program over the past year.
But another 158,000 homeowners who signed up have dropped out — either because they didn't make payments or failed to return the necessary documents. That's up from about 90,000 just a month earlier.
Last month, the administration expanded the program, launching a plan to reduce the amount some troubled borrowers owe on their home loans and give jobless homeowners a temporary break. But the details of those programs are expected to take months to work out.
The states with the highest foreclosure rates in the first quarter were Nevada, Arizona, Florida and California, with Nevada leading the pack, RealtyTrac said. Florida, meanwhile, posted the third-highest foreclosure rate with one out of every 57 properties receiving a foreclosure filing.
California accounted for the biggest slice overall of homes facing foreclosure — roughly 23 percent of the nation's total. One in every 62 properties received a foreclosure filing in the first quarter.
SEE GRAPH FOR A VISUAL ON THE FORECLOSURE EXPECTATIONS.
|
|
|
|
|
|
|
Economists: 3-year backlog of foreclosures in courts
By: Washington Post
Publicada el: 25/Jun/2010
It could take at least three years to work through the backlog of delinquent borrowers, economists say....
|
|
Governor Crist signs massive condo bill today
Publicada el: 25/Jun/2010
FORT LAUDERDALE, Fla. – June 24, 2010 – Gov. Charlie Crist traveled to South Florida today to ceremonially sign this year’s massive condo bill, SB 1196. The bill, among other things, exempts some elevators from code requirements, revises voting laws for condo associations, and makes changes to loss...
|
|
Foreclosure rates surge, biggest jump in 5 years
By: Alex Veiga, MSNBC
Publicada el: 15/Apr/2010
A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report....
|
| More News... |
|
|
