As mortgage defaults and foreclosures continue to rise, the impact is spreading well beyond those who are losing their homes.
In communities across the country, msnbc.com readers report that local governments are coping with shrinking tax rolls, lenders are saddled with more foreclosed homes than they can sell and empty homes in many neighborhoods are being […]

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AP - Soaring foreclosures are continuing to raise questions about the mortgage industry’s claims that they are making a dent in the housing crisis.

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Hard hit cities like Sacramento, Phoenix and Las Vegas are set for more steep losses. Some real estate experts are bracing for price drops of as much as 50%.
NEW YORK (CNNMoney.com) — With home prices plunging by more than 30% in some markets, bargain-hunters are ready to pounce.
But it may pay for buyers to wait. […]

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Hard hit cities like Sacramento, Phoenix and Las Vegas are set for more steep losses. Some real estate experts are bracing for price drops of as much as 50%.
NEW YORK (CNNMoney.com) — With home prices plunging by more than 30% in some markets, bargain-hunters are ready to pounce.
But it may pay for buyers to wait. […]

[Read more →]

Mortgage bankers report hits grim a benchmark in first quarter, showing a record number of homes in jeopardy.
NEW YORK (CNNMoney.com) — More than one million homes are now in foreclosure, the highest rate ever recorded, according to a trade group which warned Thursday that number will continue to climb.
The Mortgage Bankers Association’s first quarter report […]

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HARTFORD, Conn.—Housing inventory may be rising in some parts of Connecticut, but a new report shows there’s a mismatch between what’s coming on the market and the type of affordable housing that’s needed.
Economist Donald Klepper-Smith, who analyzed the state’s housing market for the HOMEConnecticut campaign, says much of the available housing is older and located […]

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Fewer homes are being sold in Lafayette Parish than in 2007, but whether those numbers indicate a long-term downward spiral in the local housing market remains to be seen.
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SAN DIEGO (Reuters) - As though Southern California’s fine weather and beaches weren’t attractive enough, a San Diego developer desperate to clear inventory is offering potential home buyers a buy-one-get-one-free scheme.
In a market beset with foreclosures and plummeting sales following the mortgage meltdown in 2007, Michael Crews Development will give away a row home […]

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