An entity controlled by Rallye Auto Group was the high bidder at a foreclosure auction last month to purchase the two buildings, 125 and 131 Jericho Turnpike, according to real estate sources. Constructed in 1967, the five-story buildings, which total 103,580 square feet on close to 4 acres, are about 75 percent occupied.
Over the last six years, we have experienced strong price appreciation in downtown Boston condos which has increased home equity levels dramatically. As the number of “cash-out” refinances begins to approach numbers last seen during the crash, some are afraid that we may be repeating last decade's mistake. Foreclosure News
Earlier this week, we noted that the New York Fed's quarterly household debt data showed a collapse in the share of consumers facing collections for bad debts. On Thursday, quarterly data from the Mortgage Bankers' Association relating to mortgage bankruptcy and delinquency showed similar results. Foreclosure News
In 2010, Florida was in the throes of an unprecedented housing crisis. One in every eight homes was in some stage of foreclosure. Foreclosure News
For generations of white American families, homeownership has been a fundamental means of accumulating wealth. Their homes have grown in value over time, providing security in retirement and serving as an asset against which they can borrow for education or other purposes. Foreclosure News
Los Angeles City Councilman Herb Wesson, pictured in 2013, was hit with a legal judgment over outstanding credit card bills. Los Angeles City Council President Herb Wesson found himself in financial peril two years ago, narrowly avoiding a foreclosure auction on a rental house he owns in Ladera Heights. Foreclosure News
In the fourth quarter, there were about 3.17 million underwater homes in the U.S. – about 6.2% of all homes with a mortgage, according to CoreLogic. That was down 2% from the third quarter and a 25% drop from the fourth quarter of 2015. Foreclosure News
