Research shows that so-called “zombie foreclosures” are emerging in much bigger numbers again as distressed homeowners abandon their properties in the belief that they will soon be repossessed. Around 1.4 million residential homes in the U.S. stood vacant in the second quarter, amounting to 1.4% of all homes, ATTOM Data Solutions said in a new
Zombie foreclosures decline during COVID-19
June 1, 2020 by
The COVID-19 pandemic has not set off a wave of foreclosures, in large part because the government has put moratoriums on foreclosures and banks are offering mortgage forbearance options for homeowners who have lost their jobs. “Zombie foreclosures”—homes that sit vacant—are actually down 3.1% from the first quarter of 2020, ATTOM Data Solutions reports. Further,
Vacant & abandoned homes are a big factor in the ‘housing crisis’, experts say
July 26, 2019 by
The U.S. is often said to be facing a “housing crisis”, with much of it centered on a shortage of available homes for sale. But a new report from the National League of Cities says that abandoned and vacant homes across the country are also a big part of the problem. In some parts of
17 Tips for Crime Proofing Your Properties
July 5, 2012 by
Vandalism and copper theft in vacant properties has become a huge problem for both residential and commercial real estate investors in recent years. But while you can’t completely stop such thieves from inflicting their misery, there are definitely some steps you can take to make them think twice
Detroit – Just Let it Burn!
April 26, 2012 by
Dozens of vacant homes in Detroit have been set ablaze in recent weeks by a spate of arson attacks. In a surprising response, firefighters in the city have controversially proposed to let the homes burn rather than trying to save them, in order to save money.
Squatters Causing Chaos in Tarrant County, Texas
December 7, 2011 by
Squatters are descending on Tarrant County, Texas, in their droves in order to take advantage of a unique loophole in Texan law that is allowing them to set up shop in some of the most luxurious and prestigious properties in the county, reports the Associated Press. So many squatters have moved into the county in
13 Percent of American Homes are Vacant, Says Census
March 28, 2011 by
The national vacancy rate now sits at 13 percent, according to the latest decennial census report. As the number of vacancies grow, the housing market continues to feel the effects, bringing down home values and final sale prices. A good portion of the vacancies are due to foreclosures, and certain states have been hit harder
