Archive for the ‘Foreclosure Auction’ Category

Last January Internet tycoon and hotel owner Halsey Minor purchased back his own estate in a foreclosure auction on the steps of Albemarle County. His bid of $1.35 billion was the highest. He paid in ready cash $75,000. The property was Fox Ridge farm covering 205 acres.

The Congress Hotel on the western part of Baltimore is a heritage building. It was constructed in 1905 and considered to be the grand dame among the hotels in the city. Ten years ago it was transformed into a housing unit. Last Tuesday 26th September it was sold in a foreclosure auction for a price [...]

Foreclosure auctions at Grand Rapids are attracting bargain hunters. One of the potential buyers, John, had his eyes on a house in Grandville. He had plans to repair it and make it habitable for either reselling or as his own residence. Until the completion of the auction he could not make any plans. This particular [...]

Foreclosure auctions are a great way to pick up a home at a below market price, whether you are looking for a primary residence or an investment property. One thing that restricts the number of bidders at a foreclosure auction is that you have to be ready and able to put down a significant portion [...]

Cleveland has been the epicentre of foreclosures for many reasons – the prime one being the collapse of the economy of the Rust Belt that led to massive unemployment. Also there was a fall in population. But some critics are not willing to totally buy this argument. They put the blame squarely on bad governance [...]

Las Vegas is known as the Sin City. Today it has become the foreclosure city of tents. In Reno, about 200 people know the tent city to be their home. The high-rise gambling casinos cast a shadow over the rows of tents – a mute witness to human indulgence on one side contrasted with suffering [...]

A financial crisis of jumbo proportions has hit America but it is the Afro-Americans who are suffering the most from the foreclosure catastrophe. Their community shows the highest rate of joblessness, unemployment and foreclosures. Even firms that are owned by blacks are suffering. These companies are a source of revenue and employment for the Afro-Americans. [...]

Obama has already set his team ready to focus on foreclosure prevention measures giving hope to many that something concrete is going to be done. Meanwhile the Congressional panel is worried and concerned about misuse of funds meant for foreclosure prevention. Half the funds allotted for TARP has been released but the Congressional Oversight Panel [...]

Officials are struggling to tackle the problem of families without shelter as increase in foreclosure activity is leading to more homelessness. Many tales of woe are pouring in. Jill Maker of Lowell is pregnant and expecting her third child. Fate has suddenly turned against her and she is pending her days on the hallway of [...]

As per an announcement by the federal government Washington will be getting help to tackle the problem of foreclosure menace. The assistance will be to the tune of $28.2 million to help the areas that have been worst hit by the foreclosure crisis. This includes Seattle and some parts of King County. HUD said that [...]