Tag Archives: Foreclosure.com

Foreclosure.com Recognizes Spike in Sheriff Sale Cancellations

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Boca Raton, FL (PRWEB) April 1, 2009

Foreclosure.com (http://www.foreclosure.com) right now announced that it has detected a 30 % increase in sheriff/trustee sale cancellations when it compared March 2009 data to figures from exactly 1 year ago, signaling that banks and lenders are obtaining accomplishment resolving loan conditions with distressed borrowers in default.

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It really is a optimistic sign that could mean much more individuals are avoiding foreclosure and staying exactly where they ought to be: In their houses.

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“While not the smoking gun that the housing industry is on the road to total recovery, it is great news nonetheless,” said Foreclosure.com Vice President James Houston. “Being in the midst of a foreclosure scenario is a very challenging location to be. And the fewer home owners who have to expertise it the better it is for every person.”

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Foreclosure.com breaks down the foreclosure procedure into 3 simple methods: preforeclosures, sheriff/trustee sales and post foreclosures/REOs. Sheriff sales — also identified as trustee sales in states such as California that mostly observe non-judicial foreclosure laws — are properties facing foreclosure that are scheduled to be put up for public auction.

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These public auctions generally take location at county court homes or other public areas such as libraries. It is frequently the last chance for a homeowner who has defaulted on his or her mortgage to cure the loan ahead of it is either sold to a new purchaser or repossessed by the bank/lender.

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And the reality that sheriff sale cancellations are up indicates that distressed home owners and their lenders are discovering common ground.

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“Refinances, loan modifications and short sales are all fantastic possibilities that can rescue cash-strapped home owners from foreclosure conditions,” mentioned Houston. “Most loss mitigation departments nationwide have been flooded with these sorts of requests. Now it appears that progress is getting produced infant methods.”

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Houston also points to the not too long ago introduced “Generating House Cost-effective” plan, which is a federal system produced to aid millions of homeowners refinance or modify their Fannie Mae or Freddie Mac mortgages as a attainable explanation for the jump. The goal of the plan is as its name suggests — make mortgages more affordable to quick circuit the foreclosure approach before it even occurs.

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There are 5 prime reasons that men and women finish up in foreclosure, like unemployment, Adjustable Price Mortgages (ARMs), illness, divorce and death. Houston indicates that these factors and all other people have clearly contributed to the current foreclosure scenario however, unemployment and “balloon” mortgages are the principal culprits.

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“It really is a scary situation out there correct now — men and women are hunkering down and doing what they can to get by on a everyday basis,” said Houston. “But it’s not all bad news. Sheriff sale cancellations have elevated and will hopefully continue to do so as the marketplace starts to correct. It really is a tiny step in the appropriate direction.”

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About Foreclosure.com&#13

With much more than 1.eight million foreclosure, preforeclosure, bankruptcy, FSBO, tax lien and sheriff sale listings in one location, Foreclosure.com delivers America’s largest and most accurate searchable database of foreclosed properties and investment home data to its buyers and business partners. Primarily based in Boca Raton, Fla., Foreclosure.com operates directly with hundreds of top lending institutions and government agencies to list diverse house varieties on its Net internet site, as effectively as functions listings from an extensive network of corporate sellers. As a result, the organization has been recognized by high profile media outlets and prestigious non-profit sector groups alike as the quantity one rated distressed house listing resource offered anywhere. Foreclosure.com offers a lot much more than just actual estate listings, connecting sellers, purchasers and agents in a single convenient location as a a single-stop genuine estate marketplace.

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Foreclosure.com and LoanResolve.com Forge Partnership to Connect Distressed Home owners With Eager Purchasers

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Boca Raton, Fla. (PRWEB) July 22, 2008

In an effort to stem the foreclosure tide, Foreclosure.com and LoanResolve.com have joined forces to assist connect distressed homeowners with possible purchasers, operating direct with their lenders to negotiate reduced obtain costs that will appeal to homebuyers and investors.

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It really is a process that is usually referred to as a “quick sale” even so, LoanResolve and Foreclosure.com will simplify and shorten what is typically a complex and lengthy approach.

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“In between each firms we have relationships with most if not all of the significant lenders right now,” said Brad Geisen. “We can operate with them and the homeowners to attain favorable options that support lessen foreclosure conditions, provide relief for distressed home owners and produce offers for future property owners.”

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According to Geisen, it really is an all around win-win situation for everybody involved simply because actually no a single normally wins in a house foreclosure.

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LoanResolve, which has designed a state-of-the-art foreclosure resolution and loan modification engine, helps distressed home owners avoid foreclosures by operating inside their lenders’ loan resolution, loan modification and brief sale processing services to swiftly implement solutions that make sure compliance with lender specifications

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In truth, LoanResolve gives borrowers an on-line tool that assists them proactively research techniques to resolve a delinquent or potentially delinquent loan with their lenders. As a final resort the organization provides an on the web tool to rapidly process home sale transactions.

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Based on information borrowers offer concerning their loans and their lenders offered resolution possibilities, LoanResolve assists the borrower and lender in coordinating rapid approvals toward resolutions.

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When this fast process is total, Foreclosure.com will then list those properties on its Web website and drive traffic to them — much more than five million interested buyers each month. In addition, Foreclosure.com will supply guests with the opportunity to make provides and speak to the listing brokers for far more details on the featured listings.

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“The flexibility and compliance expertise that LoanResolve delivers with its document solutions is the correct match for Foreclosure.com’s short sale house liquidation requirements,” mentioned Jim McArthur, President of LoanResolve. “We operate closely with each the lender and borrower in creating and executing options lenders can speedily implement.”

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For more information and to discover much more about how to either search these short sale listings or to have your residence listed amongst them please pay a visit to https://shortsale.loanresolve.com/Default.asp.

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About Foreclosure.com:&#13

With more than 1.eight million foreclosure, preforeclosure, bankruptcy, FSBO and tax lien listings in a single location, Foreclosure.com delivers America’s biggest and most correct searchable database of foreclosed residences and investment house info to its customers and business partners. Based in Boca Raton, Florida, Foreclosure.com performs with hundreds of leading lending institutions and government agencies to list diverse home types on its Net internet site, such as True Estate Owned (REO) Department of Housing and Urban Development (HUD) Division of Veterans Affairs (VA) Fannie Mae and other government agency and monetary institution properties as properly as listings from an comprehensive network of corporate sellers. On the Web: http://www.foreclosure.com.

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About LoanResolve.com:&#13

LoanResolve, which is headquartered in Saint Petersburg, Fla., is a major technology solutions provider to the monetary sector that maintains operations all through the United States and Canada. The organization offers items and services for home owners at risk of foreclosure, mortgage servicers and legal firms involved in default resolution. LoanResolve’ solutions contain Net based integrated workflow solutions and specialist services. Customers incorporate mortgage servicers, banks, credit unions, mortgage lenders, mortgage insurance coverage companies, genuine estate organizations, title organizations, and foreclosure attorney firms, of all sizes throughout the United States. The business is privately held, For much more details on LoanResolve Services pay a visit to http://www.LoanResolve.com.

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Media contact:&#13

Thomas Myers&#13

Foreclosure.com&#13

tmyers @ foreclosure.com

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Related Loan Modification Services Press Releases

Foreclosure.com: Michigan Tends to make Marked Obtain in Foreclosure Fight

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Boca Raton, FL (PRWEB) January 09, 2013

Foreclosure.com analyzed data that compared active Michigan foreclosure totals from the second and third quarters of 2012, revealing the soft housing marketplace in one of the hardest-hit states in the nation had 12.18 percent fewer houses in some stage of default.

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There were about three,900 much less active foreclosures in Michigan from July through September when compared to information collected between April to June 2012, mentioned Foreclosure.com Vice President James Houston. For years, Michigan has been on the incorrect side of national foreclosure lists however, current evaluation shows that it is the most enhanced state percentage-sensible.

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In fact, Michigan beat out Texas, which decreased its active foreclosure inventory by a lot more than 10 %, to claim the best spot.

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Houston points to Michigans staunch effort to hold roofs over the heads of distressed home owners as a crucial cause the foreclosure inventory is improving. Moratoriums, loan modifications, quick sales and other house-saving programs are beginning to show indicators of good results.

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The recovering state economy, which relies heavily on the resurging automotive business, is also likely a contributing factor, among others.

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Nevertheless, foreclosures are nonetheless as well frequent and prevalent. And thats particularly the case in the states biggest cities exactly where foreclosures, naturally, occur more regularly such as (in order of frequency) Detroit, Flint, Grand Rapids, Warren and Lansing.

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Flint was the city that enhanced the most statewide, lowering its inventory by nearly 61 percent, while the quantity of distressed homes in Port Huron, which is the states easternmost point on land and serves as the Gateway to Canada, improved nearly 39 percent.

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Here are the most (and least) improved cities in Michigan (Q2 vs. Q3 2012):

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**Note: Only cities with a minimum of one hundred active foreclosures in both quarters had been analyzed**

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Prime five Cities

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Flint -60.66%&#13

Romulus -40.71%&#13

Royal Oak -36.95%&#13

Wyandotte -32.45%&#13

Southgate -32.06%

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Worst 5 Cities

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Port Huron +38.57%&#13

Meskegon +20.53%&#13

Kalamazoo +12.97%&#13

Niles +9.77%&#13

Davison +4.24%

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Foreclosure.com has also posted a useful Michigan foreclosures InfoGraphic that illustrates the information above and much more in chart kind at http://www.foreclosure.com/articlecenter/category/foreclosure-infographics.

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Attention EDITORS AND PRODUCERS:

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For more details on Michigan foreclosures, like the rankings of specific cities primarily based on percentage of Q2 vs. Q3 2012 improvement or otherwise, please get in touch with Thomas Myers at (561) 988-9669 ext. 7381 or tmyers(at)foreclosure.com.

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About Foreclosure.com&#13

With far more than two million preforeclosure, quick sale, foreclosure, Sheriff sale, foreclosure auction, bank repossessed (bankruptcy), HUD homes, foreclosed homes for rent to own and tax lien listings in 1 place, Foreclosure.com delivers Americas largest and most correct searchable database of distressed genuine estate and investment house details. Primarily based in Boca Raton, Fla., Foreclosure.com works straight with hundreds of best lending institutions and government agencies to list diverse home kinds on its internet site, as well as functions listings from an extensive network of corporate sellers. As a result, higher profile media outlets and prestigious non-profit market groups alike have recognized the company as the number one rated distressed home listing resource accessible anywhere. Foreclosure.com offers considerably much more than just true estate listings, connecting sellers, purchasers and agents in a single hassle-free place as a 1-quit true estate marketplace.

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