Short Sales Over Forclosure

Banks are agreeing to more short sales, and for the first time, short sale transactions are exceeding foreclosure deals, according to the most recent housing data from Lender Processing Services (LPS) Inc. In January, short sales made up 23.9 percent of home purchases, according to LPS. Meanwhile, foreclosures made up 19.7 percent of sales. Just…

“Obama Extends Foreclosure Prevention Program Aid”

  The Obama administration will be expanding eligibility requirements for its foreclosure prevention program, the Home Affordable Modification Program (HAMP), to help more struggling home owners participate.  The program will expand its eligibility requirements for those who may qualify for a loan modification, including how the debt ratio of mortgage borrowers is calculated as well…

Crime in Forclosed Homes

According to city data, there were nearly 15,000 abandoned buildings in Chicago as of Oct. 20, most of them a result of foreclosures. Three neighborhoods account for 20 percent of the total: Englewood, West Englewood and Austin. The city lost 200,000 residents from 2000 to 2010, according to census data. In the area immediately surrounding…

Animals Left for Dead in Foreclosed Homes

Animals left in abandoned homes with no food is a scenario that has become more common since the real estate market tanked and triggered soaring foreclosure rates, say real estate agents, mail carriers and animal rescue groups on the front lines of the problem. These pets have not only been left behind, but are locked…