What was the foreclosure rate in 2009?

CHICAGO (MarketWatch) — The number of U.S. residential properties receiving at least one foreclosure filing jumped 21% in 2009 to a record 2.82 million, RealtyTrac, an online foreclosure marketplace, reported Thursday.

What percent of homes were foreclosed in 2008?

Foreclosures in the U.S. in 2008. A foreclosed home is a visible symbol of today’s housing crisis. The number of homes in the United States with at least one foreclosure filing increased from 717,522 in 2006 (0.6% of all housing units) to 2,330,483 in 2008 (1.8% of all housing units).

Where can I find list of foreclosure properties for sale?

The website lists bank-owned homes and government foreclosures for sale at discount prices as well as distressed foreclosure properties, pre-foreclosure properties, REO foreclosures, short sales and foreclosure auctions. Each home foreclosure is listed by state, county, and city, which simplifies the search for potential homebuyers and investors.

How many foreclosure auctions are there on auction.com?

Offering over 30,000 discounted residential bank-owned and foreclosure home deals. Hundreds of thousands of investors have purchased more than $42 billion of investment properties from our marketplace. View how Auction.com can help you reach your investment goals. Our auction buying process is simple, efficient, and transparent. EDUCATION.

Where can I find a foreclosure prevention hotline?

MHA has a hotline you can call anytime: 1-888-995-HOPE ( 1-888-995-4673) and TTY users should call 1-877-304-9709. You can also find a counselor in your area. Your state’s housing agency might have a foreclosure avoidance program as well. If you have an FHA loan, call the FHA National Servicing Center at 1-877-622-8525.

Can a General Court closure apply to a foreclosure?

Some counties and municipalities have issued additional restrictions; please check with the specific county or municipality for additional regulations that may apply to your property. General court closures or other limits on civil proceedings are not always eviction- or foreclosure-specific.

Where can I find information about a foreclosure auction?

You can search for judicial auctions in city or county public records. An internet search for your city or county name along with the words “public records,” “foreclosure,” or “foreclosure auction” is likely to turn up results that lead you to the appropriate information.

How did courthouse foreclosure auction get its name?

It gets its name because a trustee of the lender usually schedules and runs the sale as an auctioneer. A Courthouse Auction is a judicial foreclosure sale. It is usually held at the courthouse or at the property itself, and is scheduled and run by either the Sheriff or a representative of the court.

When does trustee post notice of foreclosure auction?

The trustee posts notice of the foreclosure auction 20 days or more before the sale. The notice gets published at the property itself, in another public location of the trustee’s choice and once a week in a local newspaper, for three consecutive weeks.

MHA has a hotline you can call anytime: 1-888-995-HOPE ( 1-888-995-4673) and TTY users should call 1-877-304-9709. You can also find a counselor in your area. Your state’s housing agency might have a foreclosure avoidance program as well. If you have an FHA loan, call the FHA National Servicing Center at 1-877-622-8525.

How long does foreclosure stay on public record?

The foreclosure often is shown on the public records section of your credit report, which contains matters such as judgments and foreclosures, and may be noted on the entry for your mortgage as well. The foreclosure stays on your reports for seven years once it’s been entered.

Do you lose your down payment in a foreclosure?

When your mortgage loan balance drops below the appraised value of your property, you have equity in your home. Unless you have significant equity in your property, you can expect to lose that money during the foreclosure process.

What year had the most foreclosures?

The foreclosure rate reached its peak in 2010, just after the financial crisis of 2007-2009. Since then, the rate has steadily fallen.

What happens if bank forecloses on your house?

Foreclosure actions can wipe out some of the property owner’s debt, such as the original mortgage, home equity loans and second mortgages. If the proceeds of the foreclosure don’t cover all the costs of your second mortgage or other home equity loans, you are still obligated to pay those.

Can a condominium be created before January 1, 1984?

The law allows condominiums created before January 1, 1984 to amend their declaration, bylaws, or surveys and plans to achieve any result CIOA permits regardless of what the applicable law provided before January 1, 1984 (CGS § 47-218).

When did the Condominium Act come into effect?

The Condominium Act governs condominiums created from 1977 through 1983 (PA 76-308; CGS 47-68a to 47-90c). The Unit Ownership Act governs condominiums created before 1977 (PA 1963, No. 605, July 10, 1963; CGS 47-67 to 47-115 Rev. to 1975).

Is there a state office to handle condominium disputes?

House Bill 5367 is a proposed bill that would establish a state office to handle condominium disputes. Similar bills have been introduced in the General Assembly during the last couple of years. During the 2008 legislative session the Judiciary Committee reported out sSB 706, File 546.

How can I find out what law applies to my condo?

Thus, a condo owner who wanted to know what law applied to his or her unit would have to also examine the declaration. But any such amendment must be adopted in conformity with any procedures and requirements for amending the documents specified by those documents.

The law allows condominiums created before January 1, 1984 to amend their declaration, bylaws, or surveys and plans to achieve any result CIOA permits regardless of what the applicable law provided before January 1, 1984 (CGS § 47-218).

The Condominium Act governs condominiums created from 1977 through 1983 (PA 76-308; CGS 47-68a to 47-90c). The Unit Ownership Act governs condominiums created before 1977 (PA 1963, No. 605, July 10, 1963; CGS 47-67 to 47-115 Rev. to 1975).

House Bill 5367 is a proposed bill that would establish a state office to handle condominium disputes. Similar bills have been introduced in the General Assembly during the last couple of years. During the 2008 legislative session the Judiciary Committee reported out sSB 706, File 546.

Thus, a condo owner who wanted to know what law applied to his or her unit would have to also examine the declaration. But any such amendment must be adopted in conformity with any procedures and requirements for amending the documents specified by those documents.