When I was looking to buy my first home I actually searched for foreclosures in Virginia. I looked at a few bank-owned properties and let's just say they were not totally up to my standards. But I have heard that some people get deals on foreclosed properties so maybe it is a good idea to check them out.
With all of the foreclosures of late, I was interested to see where people were searching, which states were the most popular spots for foreclosure searches. Checking out the most searched foreclosure states on AOL Search, it seems that foreclosures in Florida were the hottest topic. And apparently people were searching for Florida churches in foreclosure (which I found strange). Other hot foreclosure states were Michigan, Louisiana and Ohio.
Want some more insight into the topic? Try searching for foreclosures on AOL Search or check out AOL Real Estate for more info on home purchasing.
Top Searched Foreclosure States on AOL Search
1. Foreclosures Florida
2. Home foreclosure in Illinois
3. Florida churches in foreclosure
4. North Carolina foreclosures
5. New York state foreclosure
6. Michigan foreclosures
7. Louisiana foreclosure
8. Foreclosures in Ohio
9. Vermont foreclosures
10. Foreclosures Tennesse free listings
More Sponsored Links For: foreclosures, debt consolidation, free credit report
Reader Comments (Page 1 of 3)
1. The high powered Govt. backed foreign investors are after our blood. Like a predator in the wild targets the limping prey, foreigners have sensed a limp in our economy and are converging on our jugular with the help of our greedy and fraudulent banks.
The -ve credit the Americans have amassed from defaults, coupled with unemployment from outsourcing have laid the foundation for a hostile takeover of our country by foreigners who bring virgin credit and cash to the table.
These foreign investors are gobbling our distressed banks, the same scandalous banks that initiated this whole mess, and now own the defaulted mortgages and the foreclosures.
Foreclosures are invitations to these foreign investors who will not only own and control our economy; they will become our new landlords.
Just take a look and see what they have done with our oil dollars, transforming their desolate desert into an oasis of envy!!
Watch out America!! The Arabs are coming.
http://www.burjtowersdubai.com
Posted at 6:18AM on Dec 28th 2007 by Broke Spender2
2. Why do people think that they can buy a foreclosure home for 'pennies on the dollar'? Ads on TV say the same thing. The fact is the bank or lender will not lose thuusands- they're out to get top top dollar and you DO NOT pay 'pennies on the dollar'.
Posted at 7:17AM on Dec 28th 2007 by neuticles
3. It's not the Arabs, it's the Asians who have been buying stakes in Merrill and others.
Posted at 8:40AM on Dec 28th 2007 by dogtails
4. The main reason there are so many foreclosures is because people lacking good common sense chose to gamble on an ARM ( adjustable rate mortage ), rather than choosing a fixed rate mortage they could afford. Those who chose to gamble lost
Posted at 9:03AM on Dec 28th 2007 by Dave
5. Has 'wealthy mortgage broker' become an oxymoron? It used to be a widely known title, til recently. hahahahahaha!!! back to work in the real world ex-brokers... hurry grab them trays and deliver those burgers hot!
it's all relelvant... hope you didn't step on shoes going up because you'll be running into those same people on the way down.
Posted at 9:16AM on Dec 28th 2007 by gerard
6. ARM (Adjustable Rate Mortgages) with lower starter (teaser) rates are only part of the problem. It should be ILLEGAL for people to buy a home with 0% or 5% down. If they don't have 20% down plus closing costs, they can't afford to buy a home...keep renting until enough money is SAVED.
Gee, what a concept. Owning a home is not a given right, it's a privelege that you earn. People who bought with little or no money down are the ones most likely to default on their mortgage and walk away from the property...
Posted at 9:20AM on Dec 28th 2007 by G
7. The problem with renting is that with the rent so high today, sometimes it best to buy a house. So the best solution is to stay with your parents until you have a decent income. Then rent and don't get married until you save enough money so you can put a decent downpayment on a mortgage. AND DON'T HAVE KIDS UNTIL YOU CAN AFFORD THEM. Think of the future.
Posted at 9:52AM on Dec 28th 2007 by Keglera22
8. lowering interest rates is simply a 'chess-type move'. In other words the economey (or as I like to call it ecomoney)and the Country's finance status are all involved in a cyclical capitalist dance known as Generational Recycling! (This word was coined by ME). Generational Recycling or GR as I often refer to it, is a cycle of transitioning age-groups into their next position. For young men and woman the transition involves taking over retired positions, and employment-local real-estate. In essence the young push out the old, but fear not the old have nest eggs and will be fine (some but trust me not all). With Retirement comes Re-hirement and with that comes a new Generation about ready to grab the reins of a huge horsey by the name of Lady Liberty! This process, though enormously complex takes place rather smoothley with the help of nepotistic back-door hiring and the old sage it's not what you know, it's who you know.. This philosophy was obviously directly tied to the Black-out of the Eastern U.S.'s Grid back a few years ago. The fine folks obviously knew people, but knew nothing else.
So, the mortgage crisis that shows its symptons of forclosure teach us two things. The first thing is that if you give certain people jobs where good-faith-trust is involved, you will end up with a cash-cow of lies and business corruption. The Banking Association must always pay attention to the 'recessions and near-depressive' signs and signals which most often rear their ugly heads in the stock-markets. The Dow begins to quake, the Nasdaq because to gust and soon enough unemployment rates are up, inflation is beginning to rise and we have ourselves a bubble that could burst without any emergency procedures. One good ole reliable emergency procedure for Allan Greenspan to talk about over diamond-chisseled tea-cups with his young babes (when she's not lip-sinc'ing 36 mafia)and crumpets is the act of lowering the almighty interest rates on bank loans. yippeee! Yahoooo!!
It works. The signs of the cyclic generation-merge are among us. All the kids have been adults and collelge graduation happens every year for gods sakes. These guys need money, but more than money they need jobs- and yada yada the old guys must head out and the young guys must head in.
The rates go down, the college boys & girls get jobs, they buy houses, have children and suddenly we all here in America have a young and strong revitalzied economy of young workers and spenders! What's better than that, right? Uhmm Right. But there are glitches to even this almost-perfect economical remedy. CORRUPTION!!!
Ah yes, corruption! This metamorphasis of decent hard-working and intelligent workers in the U.S. taking over the reins does come with sleezy imitators who saturate the mortgage industry with 'sign here' tactics. All it takes to run a very profitable mortgage business is a team of professionals all willing to work together so as to cash in on all the big home-buyer commissions!
The Pipeline! This term is used to described loans in process waiting to pass all the checks and balances of a loan applicant. An honest mortgage broker might decline 70% of his/her applications due to any one of the various requirements to get a mortgage. But a corrupt mortgage broker, well his success rate might more likely be in the 80% range. What a difference! Job references that aren't checked, or a boss answering the phone sounds quite like the applicant himself? Hmmm wow did he have good things to say about the applicant! With enough chicannery corrupt mortgage brokers can lead a lavish lifestyle indeed, leaving, however, a trail of unstable mortgages destined to forclose. But the greedy mortgage broker cashed in on all the commissions via faulty, dishonest application data overlooked by a gang of naughty bankers all in on the commission payroll of a mortgage cash-cow.
And now, with all the smoke clearing it's easy to see the damage. So many foreclosures threaten to close banks and homes everywhere have lost value to the point that homeowners are now underwater, paying a mortgage that is more than what their house is worth. Amazing how all the glitz turns to smolder from a game that is played over and over in this country.
So look around you, when you see the kids playing on the swings and running around the park, take real enjoyment from it because these are the innocent years. But one day these kids we now see playing at the park will soon be sitting in the same chairs at the bank and going through the same pitfalls we are all going through right now!
Happy New Year Everyone!
Gerard Haughey
g4theweb@aol.com
Posted at 9:53AM on Dec 28th 2007 by gerard
9. To Gerard who wrote about Mortgage Brokers used to make a lot of money and now need to flip burgers:
NOT a nice thing to say. Please don't stereotype all Loan Brokers. LBs did not come up with ARMs and not all brokers spoon-fed ARMS to customers.
Not all people are the same. The media is part of the blame for creating a monster and in effect making a situation worse.
Do not forget that a lot of the defaulting loans come from greedy customers who want to make $$ and lie on their financial statements -- we call that "fraud." And yes, there are those Brokers and Appraisers who assisted in this and hyped things up to make their money. These individuals are on their way down, thanks to new laws (should've already been in place).
Unfortunately, the honest Brokers, Appraisers and affiliated workers are getting the bad wrap, but will be the ones to survive.
Again, please don't stereotype. And please don't have selective belief in the media/what you hear. You know better than that.
As Sergeant Friday (Jack Webb) on "Dragnet" used to say: "Just the facts, ma'am/sir."
Rich
Posted at 10:12AM on Dec 28th 2007 by Rich
10. Hey I am from a country, where we were in trouble and the foreign investors took over. We lost our culture and we are slowly forgetting our history. Very few profitable big businesses (if any are owned by the natives) They dont even own one of their airports.
WE have adapted foreign culture, the way we eat dress etc, and we are beginning to see the effects on the native's health.
Go back home for vacation!! HA might as well we stay here. It is just a smaller version of America.
I am talking JAMAICA ya all!! Yeh man JAMAICA.
Posted at 10:24AM on Dec 28th 2007 by boomyarddie
11. Other hot foreclosure states were Michigan, Louisiana and Michigan. proof read work before publishing........... idiot.
Posted at 10:28AM on Dec 28th 2007 by rick
12. I was shocked to hear about the billions of dollars of tax payers money mind you, we sent to Pakistan to help fight for democracy. Hey it is a good thing we are doing for them, but always always remember "Take care of your family FIRST then offer a helping hand to others"
Those billon of dollars could have at least put a dent in assisting home owners who are facing forclosure.
THIS IS CAPITALISM AT ITS BEST !!
Posted at 10:38AM on Dec 28th 2007 by boomyarddie
13. In response to #6 - G: I don't agree with your opinion on no money down mortgages. My husband and I bought our house with 0% down, standard 30 year mortgage, four years ago. We wanted to use our savings for improvements to the house, not as a down payment. The real problem is buying more house than you can afford. We bought our house using calculations on only my husband's salary (we make almost equal amounts). Some of the loan officers we talked to tried to convince us to buy a house up to our maximum pre-approval, but I wanted to make sure that even if one of us lost our job, we would never lose the house. People have come to believe that a McMansion is their god-given right, and that they should have what the Joneses have - even though the Joneses are hanging on my their over-extended fingertips.
Posted at 10:50AM on Dec 28th 2007 by bas
14. www.thesuperswapper.com
Posted at 10:57AM on Dec 28th 2007 by Bill
15. nueticles,
Try learning how to spell thousand's correctly. How do you expect to be taken seriously.
Most of you on here are Americans
who are negative thinkers.
Which is good for us who make out good with our own $ earnings without having to depend on others
for our income.
Peace.
Posted at 11:41AM on Dec 28th 2007 by Sandy
16. Big spender 2 is right, I have not worked in years. I think I'm going to move over to Dubi like Cheney, and get a job. And all of the illegal immagrants can have all of the foreclosures they want! Good-bye America!
Posted at 11:44AM on Dec 28th 2007 by unemployed
17. Where is the house that is pictured regarding hottest foreclosure searches
Posted at 11:49AM on Dec 28th 2007 by Mary
18. Big spender 2 is right; I have not worked in years and I have a degree. I think I'm going to move over to Dubai like Cheney, and get a job. And all of the illegal immigrants can have all of the foreclosures they want! Good-bye America!
Posted at 11:50AM on Dec 28th 2007 by unemployed
19. Dont worry about the foreign investors. Its our government politcians who caused all this turmoil. They gave away our jobs thru NAFTA to make better world in other places. Now they allowed the banking industry thru fraudulent activity to cause grief on our homeowners. ITS OUR OWN GOVERNMENT CAUSING OUR PAIN. THROW OUT ALL THE RASCALS
Posted at 12:19PM on Dec 28th 2007 by Jack
20. "AND DON'T HAVE KIDS UNTIL YOU CAN AFFORD THEM."
WHY NOT?....If you are from Mexico and come here and have a kid,,, we pay you! Go is this country upside down!
We NEED new leaders and I don't know WHO can get us back on track!!!
Posted at 12:46PM on Dec 28th 2007 by DB