U.S. Treasury Secretary Henry Paulson said on Tuesday that the government has already done a lot to address the foreclosure problem that continues to plague the U.S. housing industry and the economy, but more must be done.
“There’s been very signifcant progress,” Paulson said in answer to a question about Treasury’s approach to the housing foreclosure [...]

Florida’s housing market is far from recovery with both the foreclosure and delinquency rates in Central Florida increasing.
Foreclosure rates among outstanding mortgage loans were 5.5 percent in August, nearly three-fold compared to the 1.5 percent rate in August 2007, according to First American CoreLogic Inc.
The company based foreclosure rates on total outstanding mortgages instead of [...]

More than one-third of all Twin Cities home sales closing in the third quarter involved lender-mediated or foreclosed properties, up from only 9 percent during the same period a year ago, according to a survey released Thursday by the Minneapolis Area Association of Realtors.
A lender-mediated sale, also known as a short sale, is the result [...]

A THREE-bedroom, one-bathroom house with basement: all yours for $1.
The 1923 bungalow is a little worse for wear and has some “fire damage”, says the agent, but if you ever want to get out of Detroit, as many people clearly do, it’s close to the airport and freeways.
The one-dollar house is no anomaly. Four others, [...]

Home sales doubled in September as bargain hunters grabbed up Sonoma County homes, putting a dent for the first time in the region’s lower-priced properties, according to a new report.
Two out of three homes sold in September were foreclosure properties unloaded by banks or short-sales by homeowners bailing out on mortgages they could no longer [...]

In September, there were a total of 8,280 resale homes recorded sold. Foreclosure activity represented 44 percent (3,655 transactions), while there were 4,625 traditional market transactions. Foreclosed transactions represent home owners losing their property to successful individual bidders or the lender of record.
In August 2008, the spilt was 3,295 foreclosed homes and 4,210 traditional transactions, [...]

Short sales and foreclosures are having an impact on the local housing market as the median sales price dropped $20,000 in September.
The Northeast Florida Association of Realtors reports 772 home sales last month with $165,717 being the median price. That means half of the homes sold for more than that amount and the other half [...]

Improving conditions in the mortgage market bode well for the housing sector in 2008, according to NAR’s latest outlook, including a widening availability of credit at historically favorable mortgage rates and jumbo mortgage rates that have improved since August. NAR’s latest predictions include:
Existing-home sales: 5.78 million in 2007, rising to 6.12 million next year, in [...]

Gov. Jon Corzine today said the impact from the recent stock market plunge and credit crisis has yet to be fully realized and will likely bring “rising levels of unemployment,” adding New Jersey may even try to purchase homes to protect residents from foreclosure.
Speaking this morning on NBC’s “Meet the Press,” Corzine proposed the federal [...]

A 90-year-old Ohio woman, facing eviction from the home she has lived in for 38 years, shot and wounded herself this week, becoming a grim symbol of the U.S. home mortgage crisis.
Addie Polk was found lying on the floor of her home with what appeared to be a self-inflicted gunshot wound to her shoulder when [...]