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bloomberg.com - 5/13/2009

U.S. Foreclosure Filings Hit Record for Second Straight Month

— bloomberg.com — May 13 (Bloomberg) -- Foreclosure filings in the U.S. rose to a record for the second consecutive month in April as banks increased efforts to seize homes from delinquent borrowers. A total of 342,038 properties received a default or auction notice ... (more) U.S. Foreclosure Filings Hit Record for Second Straight ...

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Foreclosure Crisis

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calculatedriskblog.com - 5/13/2009

RealtyTrac: Record Foreclosure Activity in April

— calculatedriskblog.com — From RealtyTrac: Foreclosure Activity Remains at Record Levels in April RealtyTrac ... today released its April 2009 U.S. Foreclosure Market Report(TM), which shows foreclosure filings - default notices, auction sale notices and bank repossessions - were reported on 342,038 U.S. properties ... (more) RealtyTrac: Record Foreclosure Activity in April

Foreclosure Crisis

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Foreclosures Soar In April
24/7 Wall St. — bear Foreclosures took a frightening jump up in April. A report from RealtyTrac says that the number moved up 32% over April of last year and hit 342,038.  Homes defaults and auctions rose 47% over the same period. RealtyTrac’s theory for the jump is that banks are becoming more aggressive in working through their portfolios of bad mortgages after telling the federal government that they would hold off to help stabalize the market. There was no change in which states have suffered the most. In April the states hurt most badly were California, Nevada, and Florida. The by-products of the news will challenge the government’s plan to help people stay in ...

April Foreclosures Hit Record: You're Not Surprised Are You?
Todd Sullivan's - ValuePlays — ... We have been pounding this point here repeatedly. April was the month moratoriums in foreclosures expired. It should not be a surprise that folks in November 2008 whom could not afford their home still can't in April 2009. People losing their jobs who put no money or minimal money down on a home and then tapped what little equity they may have had in it have no ability at all to stay in those homes, none. Here is the Realty Trac Report: RealtyTrac® (realtytrac.com), the leading online ...

California Home Prices Plunge, And State Faces Need For US Aid
24/7 Wall St. — bear The RealtyTrac reports that one in every 138 housing units in California received a foreclosure notice last month. Foreclosure activity in the state is up 42% from April of last year. The trend has to hurt home prices, and the state tax base. That will force California to try to raise $15 billion through bond offerings and request that the US government back the paper. Bloomberg is reporting , “California is unlikely to run out of cash and go broke as a patchwork of federal aid, shifted allocations and delayed spending keep it solvent at least through September, according to Philip J. Fischer, municipal strategist at Bank of America Corp.’s Merrill ...