THE NEGATIVE TAX consequences of a foreclosure
for the mortgagor make a loan workout an attractive alternative.
Index also found the number of pre-foreclosure
filings - the original filings that can lead to a foreclosure
- increasing to the highest monthly total since the foreclosure
crisis began, hitting 207,703 in February, up more than 24 percent from 166,860 in January and up 9 percent from 190,467 in December, the previous monthly high.
in all five boroughs of New York City decreased by 3 percent between January and February of this year, to 269 from 278 new foreclosures
, according to the February foreclosure
report from Propertyshark.
According to RealtyTrac's US Foreclosure
Market Report, New Jersey ranks 16th in the nation with nearly 1,000 homes in pre-foreclosure
and New York jumped from 23rd in July to 19th in the nation in August, currently with over 10,000 homes ready to foreclose.
Market Report showed that 846,982 properties nationwide entered some stage of foreclosure
last year, with a 25 percent increase in the number of foreclosures
from the first quarter through the fourth quarter of 2005.
Last month the Los Angeles metro area had one property in some stage of the foreclosure
process for every 4,242 households, less than half the national rate, the company said.
28, issued in December 1986, which provides, among other things, specific criteria for determining whether an in-substance foreclosure
Properties repossessed by lenders following foreclosure
or REOs (bank-owned real estate) were down significantly in October, too -- off 22% from September's high to just 84,286 properties, the lowest monthly total since May, the U.
Overall, the number of active and pending foreclosure
properties in the United States rose to 62,964, a 6.
Rising prices and lagging incomes could pose a danger this year for Southern California's hot housing market, an Internet company that tracks foreclosure
activity warned on Monday.
In November 1996, a foreclosure
action was commenced by Hazel Greenberg, who held a note and mortgage covering 245 East 177th Street in Manhattan.
Index, the first look at September's foreclosure
numbers in the wake of the nation's financial markets fiasco and congressional bailout.
Results in Los Angeles County mirrored those of the state, with foreclosure
activity dropping 13 percent, said DataQuick Information Systems.
In early 1993, Getting Down to Cases described a case where a mistake which was made in a foreclosure
sale was later rectified by the court.
Homes Are on the Rise; REOSphere Offers a Free Foreclosure
Listings Portal to Find These Highly Desired Foreclosures