Foreclosure Market

The U.S. Government established HUD in 1965 for executing and developing their policy towards the cities and their houses. HUD, currently, has its primary focus on housing and has reduced its functions towards urban development.

Foreclosure is a great opportunity for those who want to find a dream home. A lot of banks and housing companies are selling these properties for a cheaper price. You can really find a nice deal with a good survey. Know some tips and advices to buy a foreclosure home available in the market.

Recently, sales of foreclosed properties have been slowing down for banks, who are trying to get rid of these properties. This is particularly true for Wells Fargo and CitiBank. These is because recently there have been many scandals with lending institutions, particularly with “robosigning”. This has led the government to enact more reforms so they can control this new trend.

Foreclosures have been plaguing the country particularly since the housing bubble burst. Some states are more severely affected than others. These five states are Nevada, Ohio, Maryland, Florida and South Carolina. The situation may look bad for them now but things will improve as the economy gets better.