Freddie Mac foreclosures are expected to grow in the coming months following reports of an increase in the number of delinquencies on loans guaranteed by the Federal Home Loan Mortgage Corp., the second biggest home funding company in the United States. Last month, Freddie Mac s mortgage investment portfolio increased by an annualized rate of 7.3 percent [...]

Rhode Island Rules Aimed at Staving Off REO Homes
The city council of Cranston in Rhode Island is considering rules aimed at containing the number of REO homes in the area. Under the rules, lenders are required to renegotiate the loans of distressed borrowers before foreclosures could be initiated. The strategy is similar to the one initiated in the neighboring city of Providence in [...]

Arizona Communal Properties Facing Tax Lien Foreclosures
Colorado City, Arizona’s 35 communal properties are facing tax lien foreclosures if they failed to settle unpaid taxes and interest within three years with lien purchasers. About 150 houses and land holdings in the polygamous community is in danger of foreclosure due to nonpayment of the 2007 property taxes amounting to $124,000. The treasurer’s office of [...]

Buy Fannie Mae Foreclosures Now as Choices Increase
Buy Fannie Mae foreclosures now as the inventory of Fannie Mae homes increases. Based on the latest data released by Fannie Mae, the pace of defaults on single-family loans surpassed 4 percent last July, the highest delinquency level reached by Fannie Mae in 11 years. Most of these defaults are expected to go into foreclosure because [...]

Lis Pendens Filings Slowed Down But Still Rising
Lis pendens filings continued to rise in seven counties across the country, albeit at a slow pace. Lis pendens, or notice of default in states with non-judicial foreclosures, is a written notice that notifies the court and the owner of the troubled property that the latter defaulted on its mortgage payments. Filing the notice of default [...]