Foreclosure

Longtime Florida Builder Oriole Homes Files For Bankruptcy

If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!The tough Florida real estate market has claimed another victim, this time longtime South Florida builder Oriole Homes Corp. The company was a parent company of 10 other subsidiaries that were losing money that Oriole had guaranteed their loans. [...]

3Sep2008 | Tom Royce | 1 comment | Continued

Hope Now Hits 2 Million Borrowers Kept From Foreclosure

Hope Now, a coalition of community based credit counseling services and mortgage lenders, has been a huge benefit for those who are facing the prospect of foreclosure. They have helped 2 million borrowers since it’s inception.
One of the biggest complaints I have heard when discussing foreclosures is the lack of responsiveness by lenders when [...]

2Sep2008 | Tom Royce | 1 comment | Continued

Atlanta’s Intergrity Bank Fails Over Contructions Loans

Integrity Bank of Alpharetta, Georgia, just north of Atlanta, is the 10th bank to fail in the country this year. While relatively small and new, the bank had grown quickly in the developing North Atlanta region as it provided financing for construction loans as Atlanta added 1 million residents over the past decade.
Integrity’s assets [...]

31Aug2008 | Tom Royce | 0 comments | Continued

Milwaukee Foreclosed On Home Over A Parking Ticket

The city of Milwaukee foreclosed on a person with physical and emotional issues over a parking ticket. Yes, you heard that right, a parking ticket.
The person, Peter Tubic, parked an unlicensed van in his parents driveway and had his house foreclosed upon over what was originally a $50 fine.
Sometimes the greed of politicians and the [...]

29Aug2008 | Tom Royce | 1 comment | Continued

Mortgage Fraud Costs Lenders 1 Billion Dollars Over Last Decade

I thought you would like to know…
The other part of this that interested me is that Florida accounted for nearly 25 percent of the mortgage fraud instances reported.

Mortgage fraud has represented about $1 billion in losses over the past decade, the Mortgage Bankers Association has said.
The increase in reported incidents comes as lenders raise [...]

26Aug2008 | Tom Royce | 1 comment | Continued

Damon Dash, Hip Hop Mogul, Facing Foreclosure on 2 NY Apartments

The latest celebrity to get the ol’ foreclosure notice is Damon Dash. Co-founder of Rock-A-Fella Records with Jay-Z has been served with a foreclosure notice on 2 of his Manhattan apartments.
Damon Dash’s net worth was estimated at 50 million dollars, but my hunch is that it has dwindled if he is being chased for [...]

21Aug2008 | Tom Royce | 0 comments | Continued

Top 10 Best States For Foreclosures in July, 2008 in the United States

If you live in these states you have to be wondering what the big deal is about foreclosures in the United States.Four states have less than 100 foreclosures happening in the state.
The horror that is going on in the Foreclosure Group of Death (Nevada, California, Florida, and Arizona) have distorted the stats in the [...]

17Aug2008 | Tom Royce | 0 comments | Continued

Top 10 Worst Foreclosure States For July, 2008 in United States

Foreclosures in the United States in the 10 worst states remained fairly consistent during the month of July. The leading states definitely has not changed. Nevada, California, Florida, and Arizona all are significantly worse off than the 5th highest state Ohio.
Watching the Olympic soccer they are using the phrase Group of Death to talk about the [...]

16Aug2008 | Tom Royce | 4 comments | Continued

Buy a House for Only 1 Dollar - Only in Detroit Baby

Yesterday we had the dead leaving Detroit in droves, now we have the 1 dollar home. Yes, you heard me right, a home for 1 dollar. 100 pennies. Your child could buy it with their allowance. A sawbuck. See below for a picture of the 1 dollar home.

Heck, it costs 230 dollars for Barbies 3 [...]

13Aug2008 | Tom Royce | 3 comments | Continued

Selling The ‘Extreme Makeover’ Home in Clayton County, Georgia

The Extreme Home Makeover Foreclosure home in Lake City, Georgia has been given a reprieve from the auction block for 30 days. As we previously reported the homeowners financed the home for 450,000 dollars and have since gone into foreclosure.
The bank has given the couple 30 days to find a buyer, but realistically unless [...]

10Aug2008 | Tom Royce | 4 comments | Continued