Distressed Homeowners’ Option to Rent Foreclosed Houses The increasing number of abandoned and vacant foreclosed houses is lowering property values in neighborhoods. These foreclosure properties that remained unsold and unoccupied become eyesores in neighborhoods. Center for Economic and Policy Research co-director Dean Baker has proposed to allow distressed homeowners to remain in their houses by [...]

Bank Foreclosed Homes Overtake Loan Modifications Early this year, President Barack Obama launched the Home Affordable Modification Program (HAMP) aimed at helping as many as 9 million homeowners avoid foreclosures. The initiative is backed by the $50 billion grant from the bailout fund of the financial industry. So far, the program has failed to make [...]

Goldman Sachs to Survive Commercial Real Estate Meltdown Unlike other regional banks which have substantial exposures to the commercial real estate market, Goldman Sachs Group has been able to cut down its exposure to commercial mortgage loans and commercial property mortgage-backed securities. In the last months of 2007, Goldman had around $16.27 billion in commercial [...]

$18M Initiative to Trim Foreclosed Homes Listings Around $18 million is allotted to be used by the city of Boston, Massachusetts to help distressed homeowners avoid foreclosures and for potential buyers to purchase properties on foreclosed homes listings. The one-year Homeownership Stabilization Campaign aims to help neighborhoods in Boston severely affected by high foreclosed homes [...]

Lifelines for Homeowners Facing Foreclosed Homes HUD As home values continue to slide in New York, and so in other areas across the country, many homeowners find themselves owning more than their properties are worth. Foreclosed homes HUD prevention programs are available for borrowers whose properties are worth less than their mortgages and for homeowners [...]

T. Rowe Price Saved from Foreclosed Homes Auctions Trouble Baltimore-based investment firm T. Rowe Price was able to save itself from financial difficulties related to large volumes of properties in foreclosed homes auctions because one of its credit analysts made a correct analysis of the housing market and the subprime lending boom in 2004. Before [...]

Foreclosed Rental Properties Rising The growing number of foreclosed rental properties in the country is starting to be noticeable. Industry experts said that many landlords, who are facing property tax increases, are wary of increasing rents because they know that they would lose a significant number of tenants. Foreclosed rental properties happen when revenue losses [...]

Texas Upscale Properties on Foreclosure Listings Increasing The overflow of the foreclosure problem from the residential real estate market to the commercial real estate in North Texas has worried industry experts who are expecting a surge of upscale properties on foreclosure listings in the coming months. According to experts, eight commercial properties, with total value [...]

Transparency for TARP and Funds for Foreclosed Properties A bill calling for a higher level of transparency in the disbursement of trillions in Troubled Asset Relief Program funds and the disbursement’s ultimate effects on the federal program to contain foreclosed properties has been launched in the House by Special Inspector General Neil Barofsky and has [...]

Low Home Prices Blamed on Foreclosed Homes Foreclosure Last month, home sales in Tampa Bay, Florida jumped by 21 percent, but prices were still down because of the increase in the number of foreclosed homes foreclosure on the market. According to industry experts, home sales in the area rose to 21 percent compared to the [...]