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Organizing your community to bring public attention to builder’s bad deeds and seeking assistance from local, state and federal elected officials has proven to be more effective and much quicker for thousands of families. You do have choices and alternatives.  Janet Ahmad

Foreclosure Latest News
December posted 109,652 foreclosuers
Tuesday, 06 February 2007

Foreclosure Filings Exceed 100,000 for Fifth Straight Month, Up 35 Percent From December 2005
"New foreclosure filings surpassed the 100,000 level for the fifth straight month, something we've not seen since we began issuing our foreclosure market report in January 2005," said James J. Saccacio, chief executive officer of RealtyTrac. December 2006 U.S. Foreclosure Market Report, which shows that 109,652 properties nationwide entered some stage of foreclosure during the month, a decrease of nearly 9 percent from the previous month but an increase of 35 percent from December 2005.

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Texas Foreclosures highest aggregate total of any state
Monday, 29 January 2007

Study: Texas riddled by foreclosures
The state and national foreclosure numbers are in, and they're not pretty. Texas finished 2006 with a total of 156,876 foreclosure filings -- the highest aggregate total of any state, according to a year-end report by foreclosure source RealtyTrac Inc.  Texas' total filings equates to a rate of one foreclosure filing for every 51 households -- making it the state with the fourth highest foreclosure rate... So how did San Antonio fare? It was ranked No. 12, with a foreclosure rate of one filing for every 37 households. A total of 14,754 filings were reported in the city over the course of 2006, according to the company.

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Atlanta Foreclosures Record High
Saturday, 27 January 2007

Metro Atlanta Foreclosures Reach a Record High in January According to Equity Depot
Equity Depot LLC reported that pending foreclosures hit a record high this month with 4,823 properties advertised for foreclosure sale in the 13 county metro Atlanta area. This represents a 25 % month to month increase from 3,842 in December 2006 to January, 2007. Overall in 2006, pending foreclosures increased from 37,605 properties advertised for foreclosure sale in 2005 to 44,971 in 2006...home ownership is at an all time high and foreclosures are a bi-product of this activity.

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Lawmakers Hear From Homeowners, Lenders
Tuesday, 23 January 2007

State Considers New Laws After Record Foreclosures
DENVER With Colorado's foreclosures skyrocketing, Tayler and Justin Richardson testified Monday how their interest rate doubled in the six years they've had their loan, giving lawmakers a glimpse into how lending practices could put homeowners in trouble...With Colorado leading the nation in the number of foreclosures, the House and Senate business committees also heard from a state regulator, the Attorney General, bankers, mortgage brokers and the Colorado Association of Realtors.

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November’s Foreclosure Rate Highest of the Year
Tuesday, 16 January 2007

U.S. FORECLOSURES INCREASE 4 PERCENT IN NOVEMBER
A total of 120,334 properties nationwide entered some stage of foreclosure during November, an increase of 4 percent from the previous month and an increase of 68 percent from November 2005, according to the RealtyTrac U.S. Foreclosure Market Report. The report also shows a national foreclosure rate of one new foreclosure filing for every 961 U.S. households, the highest monthly foreclosure rate reported so far this year. Nevada, Colorado and Georgia posted the nation's highest state foreclosure rates during the month, and California, Texas and Florida documented the most new foreclosure filings. Greeley, Colo., Detroit and the Inland Empire area of Southern California documented the highest metropolitan foreclosure rates.

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Foreclosures up 51% - One out of 182 facing foreclosure
Friday, 12 January 2007

Florida Foreclosure Hotline Counsels 'At-Risk' Homeowners
The Florida Foreclosure Prevention Hotline is teaming up with state and local authorities, local and national lenders, and other groups both public and private to provide Florida residents facing foreclosure with free foreclosure counseling.Currently, Florida ranks second in national foreclosures. One in every 182 Florida homeowners is facing foreclosure...Almost 1 million foreclosures were filed nationwide in 2006, more than a 51-percent increase from the previous year. Two Florida cities rank in the nation's top 10 foreclosures—Ft. Lauderdale is second and Miami is fourth.

 
States compete for highest foreclosure rates
Thursday, 11 January 2007

High home foreclosures signal Ohio's bigger economic problems
Ohio again leads the nation in home foreclosures, an indicator of how the state's lag in adding jobs is leading people to have trouble paying their bills, economists say. New foreclosure filings in Ohio increased by 1 percent in the third quarter of 2006 from the second quarter, trailing only Michigan and Rhode Island for the largest increase, according to the study of 42.6 million residences with one to four units.

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Aggressive building pushes Colorado and Nevada to nations highest number of foreclosures
Wednesday, 10 January 2007
Suthers wants Legislature to crack down on appraisal fraud
Attorney General John Suthers on Monday urged a crackdown on schemes to inflate property values so buyers can borrow more money - a practice he said ultimately makes buying a home more expensive...Experts say inflated appraisals, along with aggressive building, risky loans and mortgage-fraud, have pushed Colorado to the second-highest number of foreclosures in the nation. Colorado led the nation for much of 2006 but has been overtaken by Nevada, Suthers said.
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Cold Foreclosure Attitude - Just get an extra job
Wednesday, 03 January 2007

More Homeowners Facing Foreclosure in 2007
Court records show home foreclosures were up more than 30 percent in 2006 -- and 2007 is starting off much the same way... And in that case, those people should really go out and get an extra job and just find a way to make those payments."

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Denver Post: Homeowners Lose
Wednesday, 27 December 2006

Homeowners' losses are others' gains
A crew of nine movers swarms over a Lakewood townhome, quickly clearing out three floors and piling the contents in the alley. Luke Beuthel, a field inspector with a property management company called Mercury Alliance, opens drawers in the kitchen one by one, snapping digital photos to show they are empty. Nearby, locksmith Bill Grasmick hurries to replace a deadbolt on the front door. In under an hour, the house is emptied and physical control gained by Wells Fargo, holder of the delinquent mortgage.

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Foreclosures - Still Growing
Tuesday, 26 December 2006

Two Million Homeowners Facing Foreclosure
A new Center for Responsible Lending (CRL) study reveals that 2.2 million American households are likely to lose their homes and as much as $164 billion due to foreclosures in the subprime mortgage market. The CRL study is the first comprehensive, nationwide review of millions of subprime mortgages originated from 1998 through the third quarter of 2006. CRL's research suggests that risky lending practices have triggered the worst foreclosure crisis in the modern mortgage market, projecting that one out of five (19.4%) subprime loans issued during 2005-2006 will fail.

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