Foreclosures in states and metropolitan zones are being analyzed and the accusing finger points to financial manipulations that have brought about this international recession. Professor William Lucy and student Jeff Herlitz of University of Virginia came to this conclusion after studying details in 50 states, 35 metro zones and 236 counties. The survey shows that [...]

The raging foreclosure problem is being tackled with handing out bailout funds to banks. While most of the national banks are rushing with hats in their hands, two local banks on Hampton Road have declined the offer! Old Point National Bank and Chesapeake Bank had not applied for monetary help from TARP (Troubled Asset Relief [...]

It is not just reading and listening about the crisis but the harsh reality is the impact of the foreclosure crisis on the day-to-day life of the common man. Economists say, “Credit is really the lubricant – the oil – of an economy.” To make credit flow the federal government has chalked out a jumbo [...]

Despite the rage and fury, foreclosures have totally failed to impact HomeNet programme. It has reported zero foreclosures among its low to moderate house buyers. In seven years HomeNet has dealt with more than 300 clients. June has the distinction of being the National Homeownership Month. Programmes are undertaken to highlight the advantages of owning [...]

Fannie Mae predictions are that the real estate prices will fall further by 25%. The head of the mortgage body said that it was the ripe time for action to make the market turn around without being specific. It is too early to say if Bush will give the green signal to the bi-partisan housing [...]

During the first quarter foreclosure numbers showed signs of rising in the metro areas. This is in comparison to the figures of the first quarter during the previous year of 2007. Most areas saw double digit and even triple digit rises. There were however few exceptions – Loudoun County, Manassas, Fairfax and Falls Church. James [...]

The number of foreclosed houses in Prince William County has gone up by double since 2007. It points to the worsening of the real estate crisis. According to land records office figures, 306 units were taken back by the bank in February. In the previous year the number was les by 140. In Manassas, Manassas [...]

For those interested in picking up a bargain from foreclosure auctions a visit to a website launched by Long & Foster will be informative. It gives details of all the foreclosed houses ready to be sold in central and northern Virginia. Generally information about foreclosure is difficult to get. To find out if the property [...]