Foreclosure Activity Up Last Month but Down Year on Year

A recent report released by RealtyTrac shows the number of default notices, bank repossessions and scheduled auctions that were reported in the US in August, reached a figure of 116,913 properties. This is an increase of 7% compared to July, but is still 9% lower than a year earlier. Last month a total of 51,192

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UK Housing Minister Announces £20 Million Fund to Help Prevent Repossessions

The UK Housing Minister, Grant Shapps, has announced there will be a new £20 million Preventing Repossessions fund to help homeowners in danger of being repossessed, something which will enable local councils to offer interest-free loans to homeowners.

Foreclosure Rates Down in 2011, says RealtyTrac

The number of foreclosures filed last year dropped by almost 33%, falling to the lowest level in four years, according to new data from RealtyTrac. Throughout 2011, one out of every 69 homes were foreclosed on, while lenders repossessed a total of 804,000 homes – compared to last year’s total of 1.05 million homes being repossessed, when the foreclosure crisis was at its peak.

Report Shows One Million Foreclosures To Be Delayed Until 2012

A new report from RealtyTrac suggests that around one million foreclosure notices expected to be filed by mortgage lenders in 2011 will be delayed until the following year – a boon for homeowners who will gain extra time to catch up with their mortgage repayments and avoid losing their homes.   However, it might not

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UK facing sharp rise in house repossessions

According to Richard Banks, CEO of UK Asset Resolution, the country is facing a sharp rise in repossessions once interest rates begin to rise.   UK Asset Resolution is the state company which was set up to manage the £80 billion of mortgages formerly owned by banks, which were bailed out by taxpayers during the

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