According to latest data from RealtyTRac, foreclosures jumped in 72% of metro areas in the U.S. last year. However, Cory Boatright of ShortSaleFundamentals.com says that despite the sizable increase, the rate of foreclosures in the ten worst-hit areas actually went down. This probably means that there are only a handful of people left to foreclose on, he adds. Take a look at Cory’s blog entry to read the rest of his article.

More distressed homeowners will be able to keep their homes longer as more than 1.6 million households have received loan modifications. According to Bob Massey of REWealthCoach.com, the HOPE NOW alliance of major lenders reported that it has modified about 1.65 million loans during the course of its four-year operation. In November 2010 alone, about 112,000 homeowners reportedly received permanent loan mods, which is twice the number of foreclosures that were processed during the same month. Check out Bob’s post to read the rest of his article.

After receiving a reprieve from having their properties taken over by banks and lenders during the holidays, homeowners facing foreclosures are in for another rollercoaster ride. According to Bob Massey of REWealthCoach.com, Fannie Mae and Freddie Mac have resumed evictions after freezing their foreclosure activities over the holidays. He says in the state of Oregon alone, about 100,000 homes are up for repossession this month. Read the rest of Bob’s post to learn more about this story.

As a newbie investor, what should you do to secure lucrative real estate deals? JP Moses of REITips.com provides an answer to this question as his latest post. In his newest blog entry, he shares a list of 25 tried-and-tested strategies to getting real estate deals, which is created by his friend and fellow real estate investor Mike Ferris. Check out JP’s post and discover what these knockout strategies are.

As many parts of the country are facing declining home values, there is a high probability that many homeowners will resort to strategic defaults in the coming months. According to Bob Massey of REWealthCoach.com, an “A. Gary Shilling’s December Insight” report reveals that some real estate markets will see a 20% decline in home values before prices bottomed out. Economist Nouriel Roubini, Bob says, shares the same sentiment as the conservative economist believes that a 5% decrease in home prices will cause a $8 million increase in negative equity. This will reportedly encourage millions of homeowners to walk away from their mortgages. Read Bob’s post to learn more.

It looks like many first-time home buyers have overcome their fear of buying property. According to Bob Massey of REWealthCoach.com, the Campbell Housing Pulse Tracking Survey revealed that first-time home buyers represented 37.2% of the market last month, up from 34.4% in October. Investors, meanwhile, represented 19.9% of the market as they seem to be waiting for the resolution of the foreclosure documentation fiasco. Read the rest of Bob’s post to learn more.

Foreclosure activities across the country slowed down in November as banks repossessed fewer properties last month. Citing data from RealtyTrac, Bob Massey of REWealthCoach.com reports that foreclosures fell 21% from October and 14.4% from last year. Bank repossessions, on the other hand, declined by 28% during the same period, down by 12% from November last year. What are the possible reasons for the decline in foreclosure activities? Read Bob’s post to find out.

A government watchdog has admitted that a program aimed at helping homeowners avoid foreclosures is not that effective. According to Bob Massey of REWealthCoach.com, a congressional oversight committee acknowledged in a report that the Home Affordable Modification Program, or HAMP, has failed to meet its goals. The congressional report also revealed that the program is expected to save fewer homes by the time it expires in 2012. Read on the learn more.

Good news for distressed homeowners. It seems that they will still have a roof above their heads this holiday season. According to Bob Massey of REWealthCoach.com, lenders have announced that there will be no foreclosure filings and evictions during the last two weeks of December. Fannie Mae and Freddie Mac, as well as the Bank of America reportedly said that they will impose a moratorium on their foreclosure activities until early January. Wells Fargo is also planning a similar move, Bob reveals. Read on to learn more.

The National Commission on Fiscal Responsibility and Reform is urging the government to slash the mortgage tax credit to control the country’s budget deficit. According to Bob Massey of REWealthCoach.com, the government watchdog recently submitted a proposal to eliminate mortgage tax credit for second homes. He adds that the commission also wants to limit the credit to mortgages from the current $1 million to below $500,000. However, industry experts expressed objection to the proposal, saying that such a move is unadvisable. Why do they think so? Read Bob’s post to find out.

With low real estate prices and interest rates, now is indeed a good time to buy a new home. However, Trevor of TheREIBrain.com reports that first-time home buyers are afraid to purchase properties because of the growing distrust with banks and lending institutions. First, banks were approving mortgages without checking if the buyers can approve them. And just recently, their employees were caught approving foreclosures without looking at documents. With all the confusion generated by banks’ irresponsible actions, Trevor believes that it would take some time before lenders can regain the trust of home buyers, especially the first-timers. Read on to learn more.

Taxpayers, brace yourselves. It seems that Fannie Mae is asking for more funds to keep itself afloat. According to Cory Boatright of ShortSaleFundamentals.com, the government-sponsored enterprise is seeking another $2.5 billion as coverage for its July to September deficit. Cory notes that since September 2008, the government has provided Fannie Mae with $88.6 billion in taxpayers’ money and so far, the mortgage giant has paid $8.1 billion back. Read on to learn more.

It looks like one of the country’s financing giants has admitted some wrong-doings amid the ongoing foreclosure fiasco. According to Cory Boatright of ShortSaleFundamentals.com, Wells Fargo confessed that at least 55,000 of its foreclosures were mishandled. The bank reportedly said that it did not “strictly adhere” to legal procedures. Take a look at Cory’s post to read the rest of this intriguing article.