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Investors with cash driving housing market
WASHINGTON — Home sales are starting to tick up after the worst year in more than a decade. But the momentum is coming from cash-rich investors who are scooping up foreclosed properties at bargain prices, not first-time home-buyers who are critical for a housing recovery. The number of first-time buyers fell last month to the […]
Fewer homeowners underwater in the third quarter
NEW YORK — The number of homeowners who owe more than their houses are worth fell for the third straight quarter this summer. About 10.8 million households, or 22.5 percent of all mortgaged homes, were underwater in the July-September quarter, housing data firm CoreLogic said Monday. That’s down from 23 percent, or 11 million households, […]
Foreclosure auctions called off
More than 70 percent of the scheduled auctions of foreclosed homes at three Towson-based auction houses were canceled last week as lenders continued to review paperwork for potential errors. Online listings for residential foreclosures at Tidewater Auctions LLC, Mid-Atlantic Auctioneers LLC and Alex Cooper Auctioneers Inc. showed 238 of 338 auctions scheduled from Wednesday through […]
Despite foreclosure halt, mortgage crisis not over
MIAMI — For most Americans at risk of losing their homes, the brutal business of foreclosure goes on. Bank of America halted foreclosures across the country to address paperwork problems, but three other banks did so only in 23 states. Other banks holding millions of mortgages have not suspended any foreclosures. In the other 27 […]
