While filings of default notices for Miami foreclosed homes were down for the month of March, they are still very high year over year, as the city boast one of the highest rates of foreclosure in the country.

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Foreclosures Used to Carry Big Tax Burden, But Not Anymore
In the past, undergoing a foreclosure not only ruined your credit and lost you your home, it also left you with a huge tax burden at the end of the year. Even though you retained nothing from the amount garnered by your property‘s sale, the IRS used to count the sale as income, and expect it to become part of your taxable income.

Philadelphia Citizens Protest Bush s Foreclosure Alliance
The citizens of Philadelphia banded together on Tuesday to protest the work of the Bush administration’s newly established “Hope Now Alliance”, a partnership between prmonent mortgage lenders, bankers and the U.S. treasury department aimed at easing the rate of foreclosure.

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Minnesota Receives $4.3 Million Grant to Fight Foreclosure
As Minnesota is currently experiencing a record number of homeowners in default facing foreclosure and foreclosure properties currently on the market, the state is making solid moves to come to the aid of indebted borrowers. The state will use a $4.3 million grant to help an estimated 7,000 borrowers avoid a foreclosure in 2008.