Listings Foreclosures - Read the Latest Foreclosure Listings News.

The rise in the number of homes falling under foreclosure listing in Virginia has spawned a number of companies taking advantage of troubled homeowners, market analysts have reported. A housing agency in the region has recently sought the help of the Attorney General's Office to prosecute these companies that are offering fake rescue services to borrowers in the state.

According to Housing Opportunities Made Equal (HOME), several companies operating in the state are encouraging borrowers to take steps that can lead them to financial troubles and might even be illegal. Housing counselors have reported that the rise in the number of Big Island foreclosures and distressed properties in various areas of the state has created a market for these fraudulent companies. Around 300 state homeowners have reportedly fallen victim to these firms' practices.

Meanwhile, HOME has reportedly investigated around 60 of these businesses that are believed to be targeting homeowners whose properties are under Virginia foreclosure lists. Most of the victims, reports have revealed, are borrowers seeking loan modifications. Reports also claimed that the companies get in touch with homeowners through phone and mail. Majority of the homeowners who have reported being approached by these companies are said to have paid upfront fees in exchange for assistance in their loan modification applications.

However, these companies have failed to deliver the promised assistance, with most of their supposed customers eventually seeing their homes included in foreclosure listing. Housing counselors have warned homeowners not to entertain such companies, particularly when they ask for upfront fees even before a service is rendered. They advise borrowers to instead get in touch with a housing agency that is certified by the U.S. Department of Housing and Urban Development or HUD.

In addition, counselors have stated that companies that promise that they can definitely put a stop to foreclosures are most likely fake. They also warn homeowners with properties in pre foreclosure listings not to stop paying their mortgages if a company approaches them and asks them to give the payment to them instead. Victims of these fraudulent businesses have also reported that they were sometimes asked by such firms to provide fake information on their loan modification application documents.

With a lot of homes ending in foreclosure listing in Virginia, housing counselors asserted that it is not surprising that there are those who will take advantage of homeowners' plight. They advise borrowers to report to local authorities if they had been approached by any of these fake businesses.

The best foreclosure listings in Chicago, Illinois added more properties during the month of March 2011 compared with February 2011. According to housing market analysts, although foreclosure numbers have declined in most U.S. markets year-over-year, the residential property industry is still in trouble and the drop has more to do with delayed procedures rather than an improving market.

For March 2011, Chicago foreclosure listings expanded further as more residences entered the foreclosure process. A total of 10,821 residential units in the metro area were under some stage of foreclosure during the month, representing a surge of 23% compared with February of this year. Statewide, month-over-month figures were also up, although March foreclosure totals were down from one year ago.

Foreclosure listings in Illinois increased in March 2011 when compared with February 2011 figures. A total of 12,053 residential units were under some form of foreclosure during the month, up by 25% from February. Among these properties, 7,428 received default notices, while 1,919 were scheduled for auction. A total of 2,706 houses, on the other hand, were repossessed by banks and were classified as bank-owned properties. When compared with March 2010, the total actually declined by 15%. However, analysts stated that this is not a sign of an improving housing market, but is more a result of delayed processing as lenders try to deal with backlogs.

According to analysts, judicial states like Illinois were affected by the processing delays more so than non-judicial regions. The best foreclosure listings in Illinois showed that 20,991 homes were issued default notices during the January-March 2011 quarter, while 4,014 residences were scheduled for auction. Meanwhile, 8,068 were taken back by lenders during the three-month period.

The huge year-over-year drop in the number of bank and VA foreclosures in Illinois and in other judicial states showed that lenders are taking their time foreclosing on properties, analysts have stated. The documentation controversy that temporarily halted foreclosure actions in the latter part of last year also led to federal investigations which, in turn, prevented foreclosure actions from getting completed. This, analysts further asserted, was the cause of the lower foreclosure numbers.

For the rest of 2011, analysts are predicting that the best foreclosure listings will rise again as lenders work through their backlogs and more distressed properties enter the market. Housing market observers are predicting that lack of homebuyers, depressed housing prices and tight lending standards will continue to hurt the residential market of the state and the whole country.

For those who were planning on buying properties on foreclosed home listing in Nevada, February 2011 proved to be a time for less number of choices. This is because foreclosure activities in the region have dropped by over 20% during February compared with January.

Although Las Vegas foreclosure listings and distressed property listings in other Nevada markets are showing signs of slowing down, the state still has the highest rate of foreclosure filings in the whole U.S. In February of this year, filings for foreclosed properties declined in Nevada by 22% compared with January 2011. However, this did not prevent the state from becoming the top U.S. region in terms of foreclosure filings for the 50th month in a row.

A total of 9,953 housing units entered Nevada foreclosure listings in February 2011. According to housing industry analysts, the statewide decrease in foreclosure filings was largely aided by several local markets that posted huge drops in foreclosure numbers. One example was Washoe County which posted a 28% month-over-month decline in foreclosure and repossession numbers during February. For the second month of the year, Washoe posted a total of 991 foreclosures, down from the January 2011 total of 1,379. Compared with February 2010, the drop was around 25%.

Although Nevada is still the primary option for people buying properties on foreclosed home listing, signs are emerging that the foreclosure crisis is somewhat diminishing in the region. However, improvements vary from one section of the state to another. The metro area of Las Vegas-Paradise retained its number one position among U.S. metropolitan regions in terms of foreclosure rates, with the area having one filing for every 106 housing units in February.

Foreclosed fixer upper listings and distressed housing listings in other Nevada regions also maintained high levels despite recent statewide declines. In Reno-Sparks, the foreclosure rate for February was one for every 184 residential units, ranking Reno-Sparks ninth nationwide. Analysts asserted that although Nevada is still at the center of the foreclosure crisis, numbers are demonstrating that foreclosures are easing. However, they stated that high unemployment levels are hindering the region from achieving faster recovery.

Analysts also added that fewer people are buying properties on foreclosed home listing because of tight credit conditions. They stated that more foreclosed property buyers are needed to clear out the considerable amount of distressed property supplies that the state currently has. They added that unloading these foreclosures is the only way for the region to start its climb towards recovery.

Distressed properties and lists of foreclosures houses remain elevated in Charlotte, North Carolina, causing residential property prices to continue to decline in the region. According to a recent report by Standard & Poor's, the region was ranked ninth among the 20 biggest housing markets of the U.S. in terms of price decreases for the 12-month period ending January 31, 2011.