Continue Reading Add comment June 13th, 2008
The housing crisis grew worse in May, as more than 73,000 American families lost their homes to bank repossessions, up a staggering 158% from the 28,548 households that were dispossessed in May 2007.
Continue Reading Add comment June 13th, 2008
If you’ve been reading HotProperty’s coverage of the foreclosure crisis, you’re not going to be surprised by RealtyTrac’s latest report, which shows that foreclosure filings jumped 7% in May compared to the previous month and rose 48% compared to May 2007.
The foreclosure filing rate in Nevada was the worst in the country as it has been for many months. California had the highest number of foreclosures. And the problems continue to worsen in Florida.
Digging lower down the list, I found something interesting. Maryland, which had the sixth worst foreclosure rate in April, had fallen back to No. 22 on the list in May. The May rate of foreclosure filings dropped by 61% in Maryland from a month earlier. Why such a big drop off? One possibility: a new law in Maryland that took effect in April gives distressed homeowners a little breathing room. Lenders must wait at least 90 days after a borrower defaults on a loan before initiating foreclosure proceedings. Lenders must also warn homeowners at least 45 days in advance that they are initiating foreclosure actions.
Other states are also taking action to give borrowers more time to work out problems. Lenders are swamped with filings and can’t necessarily give borrowers the attention they need.
Continue Reading Add comment June 13th, 2008
Representing the seller, Marcus & Millichap Real Estate Investment Services has retained the exclusive listing for Fingerlakes Crossing, a newly built 252,833-square foot power center in Auburn, west of Syracuse, N.Y. Read more »
Continue Reading Add comment June 13th, 2008
The housing crisis grew worse in May, as more than 73,000 American families lost their homes to bank repossessions, up a staggering 158% from the 28,548 households that were dispossessed in May 2007.
Continue Reading Add comment June 13th, 2008
Patriot Place, a 1.3 million-square-foot retail and hotel facility in Foxborough, is being backed by New England Patriots owner Robert Kraft. Read more »
Continue Reading Add comment June 13th, 2008
The new $100 million addition represents one of the automaker’s largest U.S. investments since the inception of its U.S. subsidiary 33 years ago. Read more »
Continue Reading Add comment June 13th, 2008
First Industrial Realty Trust Inc. has acquired four buildings in the Los Angeles area totaling approximately 440,000 total square feet. Read more »
Continue Reading Add comment June 13th, 2008
Continuing to do its part to fulfill Mayor Michael Bloomberg’s New Housing Marketplace Plan for the development and preservation of 165,000 affordable housing units over a 10-year period, the New York City Housing Development Corporation has issued bonds for the construction and conservation of nearly 2,200 such residences across the city’s five boroughs. Read more »
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