Maryland Governor Passes Emergency Resolution Requiring Lenders to Inform State about Potential Foreclosures
In reaction to the rising foreclosure rate of foreclosure all over the state, Maryland Governor Mike O’Malley announced a new emergency order Tuesday requiring mortgage lenders to notify the state ahead of the homeowner when a default is going to be issued on a delinquent mortgage. The legislation is intended to give local authorities a chance to offer help and assistance to the homeowner before the process begins, so that they will be better prepared and more equipped to avoid an eventual foreclosure.
Texans See Rise in Texas Foreclosures and a Rise in Interest at Foreclosure Auctions
With Texas foreclosures rising to near record highs in many parts of the state, foreclosure auctions in the area have become a big draw for homebuyers and real estate investors. Looking to capitalize on the chance to buy Texas foreclosure homes for discount prices, many buyers are attending auctions, buying bank foreclosures and trying to invest in these lucrative chances for real estate profits.
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Virginia Foreclosures Finally on the Rise
While Virginia foreclosures have remained at comparatively low levels to other states during the recent foreclosure boom, over the course of 2007 the number of Virginia foreclosure homes coming onto the market increased substantially, and that could spell good news for potential investors.
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