One Louisville couple figured that the two-story colonial house they bought on Bashford Manor Lane in 2003 would be their residence for the rest of their lives. Now, one refers to the former dream home as “the albatross that hangs around my neck.” One of them has a job offer in New York, but they [...]
The Obama administration has launched a new set of initiatives to help struggling homeowners keep their homes and avoid bankruptcy. If successful, more homeowners would be able to stay in their homes, property values would stabilize and the country’s deepening foreclosure crisis would bottom out. The administration’s first efforts, launched last year, lowered interest rates [...]
The loss of one’s home to foreclosure can be devastating, and millions of Americans are intimately familiar with this kind of financial and emotional trauma. A Southern California couple is facing their third foreclosure in the past year. The couple, who lost two homes to foreclosure in March 2010, has been forced to declare bankruptcy, [...]
Foreclosed homes in Louisville that have been sitting vacant and tough to sell are selling unexpectedly well at local real estate auctions. Online real estate auction company, Auction.com, held an auction at the Seelbach Hotel recently that brought out a wide range of people interested in buying Louisville foreclosed homes.
“They bid on the property and [...]
Home foreclosures have received a lot of coverage in the media for the last 18 months. The number of people losing their homes has skyrocketed as the economy has flagged. People who bought their homes at the top of the market are so upside-down on their loans that many are simply walking away from [...]
An article published in Business First of Louisville discusses a progressive and innovative project to prevent more homes from foreclosure in and around the Louisville area. The report claims that Jefferson Circuit Court Judges, Louisville Metro Mayor Jerry Abramson and U.S. Rep. John Yarmuth joined together to launch what they are calling the Foreclosure [...]
The rise in home foreclosures and distressed properties around the country has created unique investment opportunities for prospective homeowners who are willing to take a chance on a house in order to save some money. After a lender has taken possession of a property and has failed to find a buyer, they may choose to [...]
An article on home foreclosures that recently appeared on WLKY.com cites a Louisville Courier-Journal report that claims there are more than 6,000 vacant homes in and around the city. The vast majority of these homes are foreclosures. The abandoned properties have become neighborhood eyesores, and city leaders are growing concerned about the hazards that [...]
The number of homeowners delinquent on their mortgage payments and the number of home foreclosures rose to record levels in the first quarter of this year. Interest rates on home loans climbed as the government’s efforts to contain falling home prices appeared to lose momentum. The foreclosure report on Bloomberg.com claims that the delinquency [...]
