The country’s foreclosure problem is so serious that people are willing to do anything just to save their homes from foreclosures. In Delray Beach South County Civic Center alone, over 300 people joined an economic meeting in the area organized by Representative Robert Wexler to inform resident about what Congress is doing about foreclosure and other economic problems.

Wexler came with experts who informed the residents about the options available to them in case they are facing foreclosure. Palm Beach County Judge Jack Cook, who is an expert on foreclosure, informed them about the possibility of bringing in a mediator to improve communication among those involved in the foreclosure process such…

Just when a few sectors thought that the rise in the number of foreclosures is going down here comes a report showing an increase in rate of mortgage delinquency for the month of March, a sign that the foreclosure season is not yet ending. While the increasing number of delinquent payments did not automatically show a proportionate increase in the number of foreclosures it is feared that this has only created a backlog of foreclosure crisis in the near future.

A 15.7% increase in late mortgage payments has been noted in the Riverside-San Bernardino metro area. First American CoreLogic research firm reported that one out of roughly six mortgages payments were…

Home foreclosures once again increased last April no thanks to banks which went on with their foreclosure proceedings after being freed from national moratorium orders which ended last March. A total of 96,560 homeowners from California were issued foreclosure notices last April which is a 42% increase from the number of foreclosure notices issued during the same period last year.

This number may be high but it is only the first drop of the expected high number of foreclosures and repossessions in the next months considering the 12% unemployment rate in California today. Casden Real Estate Eocnomics Forecast director Delores Conway said saturating their inventories is far from their minds. The…

A lot of people seem to be wiling to be part of the solution to the rising foreclosure problem that people are clamoring for their inclusion in the Florida Supreme Court Task Force on Residential Mortgage Foreclosure Cases. This is not surprising considering that the task Force was formed primarily to recommend solutions to reduce the backlog of pending foreclosures cases in the State of Florida.

With thousands of people losing or about to lose their homes due to foreclosure there is not doubt that they would be more than willing to point the Task Force to the right way to stop the rise in foreclosure cases. This way, they can…

The rising numbers of foreclosures in the country has forced people to band together and help find homes for homeless people. Several advocacy groups have been formed but not all of them are operating openly just like “Take Back The Land”.  One of the beneficiaries of this advocacy group is Queen Omega who is now comfortably residing in a three-bedroom house worth $400,000 with her own power, water and Internet facilities. She does not however have a legal right to be residing in that house

National Coalition for the Homeless executive director Michael Stoops has confirmed the existence of about a dozen groups that are relocating homeless people into foreclosed homes…

Concerted efforts among the government and private institutions to curb the rise in foreclosure cases failed to deter foreclosures last March which soared to a record high. The soaring foreclosure rates persisted despite the efforts of “Hope Now” a coalition of mortgage servicers, lenders, community groups and services aimed at fighting the foreclosure plague.

Hope Now’s efforts paved the way for the rewriting of 134,000 mortgages which is 20,000 more than the number of rewritten mortgages since September. Modification of mortgage may have resulted to a reduction in the loan balance, extension in the life of the loan, reduction or freezing of the interest rates or a combination of these results.…

Faced with the choice of abandoning their home or falling behind on their mortgage, the family of Teresa Bondora opted for the former. Bondora, a home schooling curriculum developer, said she was willing to leave her home and live somewhere else while she strives to get out of debt. Her husband was a contractor whose earning capacity was greatly affected by the real estate crisis. They attempted to have their home for sale for $170,000 but found qualified buyers scampering away for lack of financing.

After loosing their home, Bondora, her husband Mitch and their two children are now living a home they are renting for only $300 in exchange for…

Majority of the cities that have experienced the greatest number of foreclosures are those found in four states namely Arizona, Florida, California and Nevada. These states are the location of the 26 cities with the worst foreclosure problems in the United States today. RealtyTrac Inc. reported that the highest foreclosure rates were in Florida’s Cape Coral-Fort Myers area and in California’s Las Vegas and Merced areas.

There is also a great increase in foreclosure rates in other metro areas in California including Bakersfield, Riverside, Stockton, Vallejo-Fairfield and Modesto and in metro areas in Florida including Port St. Lucie and Phoenix.

There is a 24% increase in the number of American households that…