One in five homeowners with mortgages underwater (Reuters)

Nearly one in five U.S. mortgage borrowers owe more to lenders than their homes are worth, and the rate may soon approach one in four as housing prices fall and the economy weakens, a report on Friday shows.

http://us.rd.yahoo.com/dailynews/rss/topstories/*http://news.yahoo.com/s/nm/20081031/ts_nm/us_usa_economy_mortgages

Foreclosures rise 14 pct so I'm making offers

I'm making a low ball offer on a REO in Pekin today. OK, I know all I have done is posted on Foreclosures lately but come on, it all over the news:
The percentage of vacant homes available for sale remained relatively flat in the second quarter, but still hovered in record territory.
http://rss.cnn.com/~r/rss/money_topstories/~3/344682992/index.htm

Reuters - Home foreclosure filings rose 14
http://us.rd.yahoo.com/dailynews/rss/topstories/*http://news.yahoo.com/s/nm/20080725/bs_nm/usa_economy_housing_foreclosures_dc

Foreclosures and stuff

So, on Tuesday I looked through the MLS for houses that are banked owned and I'm still shocked at what they are asking for them. My Agent did know of some deals that went through but the banks still have near market value on them. Are they just waiting with a high price hoping someone will come along and may near full price?

House of Representatives passed a massive rescue package to shore up the struggling housing market. http://us.rd.yahoo.com/dailynews/rss/topstories/*http://news.yahoo.com/s/nm/20080724/bs_nm/fannie_freddie_dc

In the news, The Federal Reserve unanimously approved new mortgage lending rules to crackdown on shady practices - particularly sub prime loans made to borrowers with weak credit. http://rss.cnn.com/~r/rss/money_topstories/~3/335014181/index.htm

The number of Americans losing their homes to foreclosure continued to soar in June: http://rss.cnn.com/~r/rss/money_topstories/~3/331566102/index.htm

With all of this stuff going on you would think I would be able to get a deal on another rental.

Homes in foreclosure top 1M

More than one million homes are now in foreclosure, the highest rate ever recorded. It's crazy to think somwthing like 1 in 10 people are late on there payments. Who do you know that could be letting the payments slip?

Anyway, I need to start looking for another rental!

http://rss.cnn.com/~r/rss/money_topstories/~3/305358905/index.htm

Foreclosures: The fight over the fix

While Congress grapples with how to help troubled homeowners, the Bush administration is expanding a more modest effort to help at-risk borrowers.

http://rss.cnn.com/~r/rss/money_topstories/~3/288637271/index.htm

Foreclosures up 112%

It's hard to belive but "one out of every 194 U.S. households received a foreclosure filing in the first three months of 2008, according to the latest figures released Tuesday by RealtyTrac." I really thought this foreclosure thing was overblown but I could be wrong.

http://rss.cnn.com/~r/rss/money_topstories/~3/279964560/index.htm

Housing relief efforts slow as pace of foreclosures rise

The pace of housing rescue efforts slowed in the first quarter of the year, according to a new report, while the number of people losing their homes to foreclosure skyrocketed during the same period.

http://rss.cnn.com/~r/rss/money_topstories/~3/279646602/index.htm

White House to veto foreclosure bill

Read full story for latest details.

http://rss.cnn.com/~r/rss/money_topstories/~3/241754379/index.htm

Wall Street Journal discusses bank-owned foreclosures

The Regular Riches Buy Low Real estate investment strategy got an
unplanned endorsement last week from the Wall Street Journal. Please
enjoy the attached article which discusses how bank-owned foreclosures
represent one of the best opportunities for investors in today's
market to acquire properties below market.

http://online.wsj.com/article/SB120275539042859517.html?mod=todays_us_personal_journal <http://online.wsj.com/article/SB120275539042859517.html?mod=todays_us_personal_journal>

Major lenders put freeze on foreclosures

Six of the nation's largest mortgage lenders have temporarily stopped foreclosure proceedings in a joint effort to cool the raging foreclosure crisis.

http://rss.cnn.com/~r/rss/money_topstories/~3/233824020/index.htm

Bloomington REOs

Looked at a few repo apmt building going to foreclosure Feb 25. Not sure I have the guts to by a multi at auction yet. 10 apartment buildings in all - hope that's not me some day :-)