In New York, one state lawmaker is pushing for new legislation that would be aimed at not allowing foreclosures to destroy a neighborhood or community by sitting on the market unowned and uncared for. This tends to drag down home values in nearby communities, and can lead to even more foreclosures as a result.

In a new update on the highly controversial anti-foreclosure bill that was passed by the House of Representatives, which would award states 15$ billion to care for and rehab foreclosed homes, HUD secretary Roy Bernardi announced that a compromise could be made, breaking line from the White House's stance that they would veto the bill if it came across the President's desk. The bill would also require the FHA to insure over $300 billion in refinanced mortgages, once lenders agreed to reduce the principal owed on the original loans.

A local Cleveland newspaper covering the foreclosure crisis in the area called the Plain-Dealer released an alarming new report on the sub prime mortgage market in the city. The report indicated that of all the properties bought with sub prime mortgages in the year 2005 in the Cleveland area, about half those homes have now gone into foreclosure, a staggering fact that points to just how badly the sub prime mortgage market has affected the real estate market as a whole.

The famous Neverland Ranch, of the entertainer Michael Jackson, was saved from a foreclosure sale set for this week after a loan on the California property was sold to a large real estate investment firm called Colony Capital. Michael said the loan is about $23.5 million and it had been held by Fortress Investment Group. The Neverland Ranch located on Santa Barbara County was slated to be auctioned off on Wednesday after the Pop Star defaulted on loan payments.

Moving to a city such as Indianapolis is obviously exciting. You and your family will enjoy the proximity to great restaurants, huge shopping malls and lively bars and clubs. There is also an abundance of museums, parks and other recreational sites. Although cost of living might be a bit higher, you will be able to [...]

In cities like San Diego, the number of homes entering foreclosures is rising steadily. As a troubled homeowner, one of the options you can explore is putting a “for sale” sign in front of your yard and hope that buyers will stumble on your property before the re-instatement period is up. You should know that [...]

If you are tired of renting an apartment or simply ready to take on mortgage payments; the first logical thing that you will do is browse for a house. You might wonder how seasoned buyers and investors manage to get their selves in the right position at the right time. The answer is simple. They [...]

For those facing foreclosure, it can be very difficult to know what to after receiving a Notice of Default, unfortunately, most people make the worst mistake possible, which is to do nothing and hope for the problem to somehow work itself out. The truth is, if you don't deal with your foreclosure right away, the longer you wait, the more chance there is that you won't be able to fix the situation and will lose your home to foreclosure auction. Here are some basic tips to help you get started.

Maryland, despite the state government’s efforts to create foreclosure prevention services for citizens and to hold bankers and lending organizations accountable for the housing crisis, saw its first quarter foreclosure statistics rise drastically, as more than 11,000 homes were foreclosed on in the first part of the year.

After the federal government announced Project Lifeline, a program that offers homeowners the chance to slow the foreclosure and default process and get a chance to catch up with their loan payments, many homeowners rushed to take advantage of its benefits. However, while the program does have some benefits and can help homeowners renegotiate loans and avoid foreclosure, it does nothing to counteract the impact of previous late payments on their credit score, which can be absolutely ruined.