The number of repo homes and foreclosed residential properties surged in Brooklyn, New York, in February 2011. The increase was significant, given that national averages have gone down. The same trend, which is in conflict with national figures, is also seen in other areas of New York City, including Bronx.
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Properties in listings of residential foreclosures that are scheduled for auction in February 2011 have increased in Austin, Texas, when compared with the same month of 2010. According to local housing market data, foreclosure postings jumped by 14% in February compared with year-ago levels.
The number of foreclosed properties and repossessed houses continues to rise in Cincinnati, Ohio. This has caused residents and city officials to be concerned about neighborhood blight that can come from high number of empty and abandoned properties so they came up with a proposal which aims to solve the problem.
Despite the presence of the U.S. federal government's Home Affordability Modification Program (HAMP), more homes end up in repo homes list in Maryland. According to some market analysts, the program has a lot of problems and is not helping as many homeowners as it should.
Las Vegas, Nevada is on top of the country's list in terms of number of foreclosures and listings of repossessed houses. In an effort to address the problem, city Mayor Oscar Goodman is reportedly considering giving an order to banks not to release any more foreclosed property in the market for a period of three years.