Recent REO News and Articles

A judge in King County ordered one of the mega lenders that had prowled around the West Coast playing foreclosure games to pay over $230,000 to a disabled elderly citizen whose house in Whidbey Island had been erroneously sold in a foreclosure auction when she defaulted. Experts are opining that this [...]

In East Palo Alto, Wells Fargo has become the biggest landlord. There are no bids at the foreclosure auctions. The company took over 1.800 houses in the Woodland Park region of Palo Alto East. It has now officially become the biggest landlord of the city.
Previously the owner of the units was Page [...]

It is a new trend – many defaulters are continuing to stay on in foreclosed houses as banks are postponing evictions. One such couple is Eugene and Patricia Harrison who last paid for their mortgage long 16 months ago. Their house is in Perris, California. Eleven months ago they were served [...]

The new owner of a foreclosed house can make an application in the municipal court of the locality seeking forcible eviction. If the court gives the nod then the Sheriff’s office dispatches a constable to the house in question to make the occupant vacate it. In 2009 there had been 1,416 [...]

Just at a point of time when experts are arguing about the economy pulling out of the downturn another issue is cropping up – foreclosures moving toward the commercial sector.
According to a recent notification from the Congressional Oversigh Panel that from 2010 till 2014 loans worth $1.4 trillion on commercial properties [...]

Compared to what it was 60 years ago society has become fairer. The upper crust comprised of The Power Elite. If the father came from Harvard the son too had 90% chance of getting in there and the entire climb up the ladder was open for him. But with changing times [...]

Once in real estate flipping was taken to be an ugly word but it is not so today thanks to a change of policy by HUD – Housing and Urban Development. It is cheering flipping so that sales pick up of foreclosed units – especially those that are in a bad derelict [...]

Those Blacks who have equity but are poor in cash have been the worst hit by the housing crisis. The stimulus is not helping in slowing down foreclosures for them. Loan analysts studying modifications say that the stimulus money has not helped them – rather it is the predatory lending entities [...]

Stuyvesant Town and Peter Cooper village complexes are in trouble. One hedge fund entity has taken over a major share of their debts and is now trying to take over control. This step will create snarls in an already complex financial and political set up involving the biggest apartment units in [...]

The US economy is on a tailspin what with unemployment at an all-time high. As people losing jobs thick and fast, even those with very sound credit history are faltering on mortgage payments. Hence, banks are taking over these properties and foreclosures have become common.
Now the Federal government has come up [...]