That hurts an already fragile housing market since foreclosed homes sales will be stalled.
The 22% of homeowners who view buying foreclosed homes in a positive light are mostly renters.
In addition to selling loans, Fannie Mae has started selling foreclosed homes in bulk.
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Gregg Alexander, a ReMax agent, is touring foreclosed homes with a half-dozen potential investors.
"They're the fastest-growing seller of foreclosed homes in the country right now, " notes Feder.
This helps explain why foreclosed homes tend to sell for hefty discounts to estimated fair market value.
CoreLogic data shows the number of foreclosed homes and the size of the shadow inventory is massive.
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Sales rose fastest in the Midwestern and Southern regions, where resales of foreclosed homes are less common.
Properties that typically would have been sold but became short sales and foreclosed homes flooded the rental market.
It will repair and refurbish hundreds of thousands of foreclosed homes and businesses in communities across the country.
And aspiring buyers are competing with savvy investors who have turned buying and reselling foreclosed homes into a business.
Cleveland-based Safeguard Properties inspects and maintains more than a million foreclosed homes per month across the United States.
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Banks still have a vast inventory of foreclosed homes going through the pipelines, which will depress prices even further.
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One downside in a neighborhood like this one in Murrieta, however, is that there are dozens of foreclosed homes on every street.
Reed has said he is interested in turning foreclosed homes into inexpensive housing for first responders such as police officers and firefighters.
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That means fewer low-priced foreclosed homes are being dumped on the market.
His staff has talked with some of the largest banks operating in Atlanta to see if the city can take over foreclosed homes.
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Last week, the Obama Administration announced a plan to place its million plus inventory of government-backed foreclosed homes on the rental market.
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This could, in turn, hurt government plans to rent out foreclosed homes, as many of them are in outlying areas, the economist points out.
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Today, Bank of America took the next step forward, saying it would halt foreclosures and the sale of foreclosed homes in all 50 states.
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Although foreclosed homes are typically associated with inconvenient or blighted neighborhoods, this reputation is undeserved: Tens of thousands of American foreclosures occupy prime parcels in pleasant neighborhoods.
The massive backlog of foreclosed homes held by banks is cited by many, including Fed Chairman Ben Bernanke, as one of the largest burdens on home prices.
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We've gone through the deepest recession since the Great Depression, and folks here have had their lives uprooted by lost jobs and foreclosed homes, shuttered businesses, vanished savings.
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Most houses that were sold were to first-time home buyers who received the rebates, or auctioned and foreclosed homes at bargain prices by those hoping to flip them later.
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The ability to assume mortgages at a much lower rate of interest could get the 1.5 million foreclosed homes off banks' balance sheets and make room again for productive lending.
If you look at the home sales, actually, half of all home sales today are first homebuyers, and they're buying short sales and foreclosed homes because they're getting such a deal.
In either case, well-organized buyers willing to use leverage to purchase multiple homes at once can make a successful living by refurbishing and repackaging foreclosed homes for sale in virtually any real estate market.
Check out recent Money Builder guide for stories on how to become a landlord, how to find deals on foreclosed homes and how to set up a loan between family members.
So these funds will be used to buy up and rehabilitate vacant and foreclosed homes and resell those homes with affordable mortgages -- and to provide mortgage assistance and rehabilitation loans for low-income and middle-income families.
Police Chief Dean Esserman of Providence, Rhode Island, said that for a time, his department saw a dramatic increase in copper thefts resulting from empty, foreclosed homes and the increased value of copper on the commodities market.
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