Reverbiage: Stories from NPR tagged 'foreclosed'

What Do You Do Once Your House Is Foreclosed...

Thu, 18 Dec 2008 13:00:00 EST

The Wazadally family will likely be foreclosed on early next month. With just $22,000 dollars in annual income, bankers gave the Wazadallys a $550,000 home loan earlier this year. Meanwhile, the Hope for Homeowners program has failed.

Calif. Housing Prices Hit Rock Bottom

Wed, 17 Dec 2008 13:00:00 EST

Housing prices in California are at their lowest in five years, fewer people are buying foreclosed homes, and a federal program to help home owners with their mortgages has only attracted 300 struggling homeowners. Alex Cohen talks to Los Angeles Times reporter Peter Hong about whether the housing crisis has hit bottom, and when it might stabilize.

Affordable Housing Rises Out Of Foreclosure Crisis

Mon, 17 Nov 2008 06:00:00 EST

Lancaster, Calif., is a high desert community on the far outskirts of Los Angeles. Officials there are spending millions of dollars to fix up foreclosed properties and make them into affordable housing. The Department of Housing and Urban Development has announced $4 billion worth of grants to local development agencies to do the same thing.

Sticking To The Essentials In San Jose

Mon, 10 Nov 2008 13:00:00 EST

A working class Latino neighborhood in East San Jose is a great place to see the small and large impact this economic crisis is having on people. Hundreds of houses in the Mayfair neighborhood are being foreclosed, and people aren't buying more than essentials.

Updated Bailout Bill May Benefit Foreclosed

Sat, 01 Nov 2008 10:36:00 EDT

The original $700 billion bailout plan passed last month has changed quite a bit from how it was originally described. Also, Republicans and Democrats reportedly are duking it out over whether to focus on tax cuts or increased spending in the next stimulus bill.

'Marketplace' Report: Residential Construction

Tue, 01 Jul 2008 13:00:00 EDT

Residential construction has plummeted, due to the huge number of foreclosed homes. Alex Cohen speaks with Janet Babin about whether things will be looking up for contractors anytime soon.

Minneapolis Lures Buyers for Foreclosed Homes

Fri, 13 Jun 2008 00:01:00 EDT

Faced with a wave of foreclosed properties, Minneapolis moves to create incentives for people to buy and live in the houses in a largely poor area of the city. But the city faces competition from private investors, whom it fears will buy up houses to rent cheaply.

Condo Associations Feel Pinch of Housing Downturn

Tue, 06 May 2008 16:00:00 EDT

In Florida, California and anywhere there are condominiums, rising numbers of owners are delinquent on their dues. Making the problem worse is that even after banks foreclose, they often don't pay association fees — leaving many condo associations in desperate circumstances.

Investors Bet on Housing Rebound in Detroit

Tue, 22 Apr 2008 06:00:00 EDT

As the U.S. real estate market falls further into decline, some cities where properties are going particularly cheap are seeing a strange revival. In Detroit, where foreclosed houses can be found on nearly every block, foreign and domestic investors are buying up bargain homes in bulk as long-term investments.

'Marketplace' Report: The Latest Housing Plan

Thu, 03 Apr 2008 13:26:00 EDT

The Senate's new plan to battle the housing crisis includes tax breaks for homebuilders and tax credits to those buying foreclosed homes. It includes little helping people who are facing foreclosure, however.

An Auctioneer Looks For Home Buyers

Sun, 30 Mar 2008 08:00:00 EDT

When banks foreclose on homes, they are faced with the problem of selling them as quickly as possible. Many banks hire auctioneers to find buyers. Rick Crossley travels from courthouse to courthouse in Northern Virginia in search of eager buyers.

How to Profit Off Foreclosures

Wed, 26 Mar 2008 13:00:00 EDT

The Real Estate Investors Club of Los Angeles hosts seminars on how to make money off of the current crisis. Don't buy foreclosed homes just yet, some of the facilitators warn, however.

'Marketplace' Report: Demand for Foreclosed Homes

Tue, 25 Mar 2008 13:00:00 EDT

A glut of foreclosed homes is driving down U.S. home prices at record rates. Madeleine Brand talks with Bob Moon about why buyer interest in foreclosed homes could dictate how long the market stays in a slump.

Businesses That Care for Vacant Homes Thriving

Fri, 21 Mar 2008 07:43:00 EDT

As the number of foreclosures rises across the country, one corner of the real estate industry is benefiting -- mortgage field servicing. These companies take care of homes that have been foreclosed upon and repossessed by the lender.

Boston Seeks Help with Foreclosed Homes

Sun, 02 Mar 2008 18:14:00 EST

Cities around the nation are grappling with an increase in home foreclosures. Local governments often foot the bill for basic upkeep of the empty homes. In Boston, city officials are trying to get mortgage companies and banks to carry more of the burden.

Providence Offers Help to Buy Foreclosed Homes

Thu, 21 Feb 2008 13:00:00 EST

Mayor David Cicciline of Providence, R.I., is using a unusual strategy to address one of the side-effects of the current lending crisis. He's offering no-interest loans to families who will buy a foreclosed house, fix it up and move in. Cicciline is also threatening to sue banks that continue to hang onto vacant, foreclosed properties.

Calif. Homebuyers Tour Foreclosed Properties

Fri, 28 Dec 2007 09:17:00 EST

There are unique bus tours in Stockton, Calif., the nation's foreclosure capital. They are called "Repo Home Tours." Instead of dealing with clients one-on-one, a realtor is offering bus tours so groups of interested buyers can see the real estate "steals" in the area resulting from foreclosure.

Flint, Michigan Sheds Foreclosed Properties

Tue, 30 Oct 2007 06:00:00 EDT

Abandoned homes are a big problem in Flint, Mich., a former manufacturing stronghold now losing jobs and residents. But the county is stepping in and taking control of the city's tax-foreclosed properties, selling plots to neighbors for a dollar or paying churches to maintain them.

Edwards' Ties to Mortgage Company Scrutinized

Fri, 17 Aug 2007 18:06:00 EDT

Democratic presidential candidate John Edwards has a big stake in a company that has been foreclosing on mortgages in New Orleans, not far from where he announced his candidacy as a champion of the poor against corporate greed.

Foreclosed Homes Won't Sell in Some Markets

Wed, 15 Aug 2007 13:00:00 EDT

Foreclosures are up all over the country. But in some parts of the country, banks are finding they can't sell foreclosed homes even at bargain rates. The abundance of foreclosures in the Midwest is also dragging down prices for surrounding homes.

Calif. Suburb Makes Lenders Care for Foreclosed Homes

Thu, 09 Aug 2007 09:48:00 EDT

Home foreclosures jumped nearly 60 percent during the first half of the year, and many of those foreclosed houses are now sitting vacant. But in Chula Vista, Calif., residents passed a law requiring lenders to hire a management company to look after vacant houses when a buyer defaults.

Home Foreclosures Create Online Cottage Industry

Thu, 09 Aug 2007 06:00:00 EDT

Type "foreclosed homes" into Internet search engine Google and almost 2 million items will return. They include ads for renovation crews, legal support and even a Web site called Shortsalemagic.com, where roofer Tom Butler promises to make you a millionaire just like him.

Foreclosures and Home Prices

Tue, 03 Apr 2007 18:59:00 EDT

Home prices have fallen from a year ago in many parts of the country. Will the downturn get truly nasty if hundreds of thousands of foreclosed homes flood the market with inventory?

Beyond Sub-Prime: Reselling Foreclosed Homes

Wed, 14 Mar 2007 13:16:00 EDT

While investors worry about sub-prime mortgages, some are capitalizing on the aftermath of some loans. James Odell Barnes specializes in buying foreclosed homes and reselling them to people through low-down payment, high-interest loans.