Foreclosure Learning Center

New statistics show that during the third quarter Detroit led all other urban areas antionally with the highest rate of foreclosure. With one out of every 80 houses entering some stage of default or foreclosure, Detroit’s foreclosure rate rose 42% during the second and third quarter. Many experts say that this is no surprise. Michigan [...]

Following the nationwide trend, foreclosures in Oklahoma have taken an upward turn, rising almost 14% between the second and third quarters of this year. Homeowners across the state seem to be unable to keep up with their monthly mortgage payments, especially in the urban area of Omaha. This is seen as a result of rising [...]

Foreclosure rates in the Chicago metropolitan area are still quite high, according to a new study. Will County remained the area with the highest foreclosure rate in the city. Grundy and Kendall counties held the lowest rate of foreclosure in the region. On average, Chicago as a whole is going at a rate of one [...]

Although Tennessee ranked among the nation’s top 10 in 2005 foreclosure rates during the second quarter, Nashville, the state capital, has a rate better than both the state and national averages. Nashville’s current foreclosure rate stands at one in every 501 homes being foreclosed. Memphis, on the other hand, has a drastically higher rate of 1 in ever [...]

A new study shows home foreclosures in Oklahoma have jumped 45 percent in the last year. Oklahoma now has the 13th highest foreclosure rate in the nation. One out of every 476 homes in Tulsa County is under foreclosure, which is more than two-and-a-half times greater than the national average. Tulsa County’s ratio is the [...]

The U.S. Department of Housing and Urban Development (HUD) announced this week that there is $600 million less in their budget than they predicted they would have to find public housing nationwide. As a result, it informed housing authorities across the nation that they will also face cuts in their budget, and will receive roughly [...]

Foreclosure filings in Palm Beach, Martin and St. Lucie counties reached a new high for the year in June. Due to rising mortgage costs and insurance rates, new reports show that in Palm Beach County alone, the amount of homes entering some phase of foreclosure went from 849 in June 2005 to 920 last month, [...]

The following tips are taken from the Federal Citizen Information Center. What is Predatory Lending? In communities across America, people are losing their homes and their investments because of predatory lenders, appraisers, mortgage brokers and home improvement contractors who: -Sell properties for much more than they are worth using false appraisals. -Encourage borrowers to lie [...]