Phoenix Foreclosure Facts
According to Wikipedia, “foreclosure is the legal and professional proceeding in which a mortgagee, or other lienholder, usually a lender, obtains a court-ordered termination of a mortgagor’s equitable right of redemption.” To put it simply, foreclosure is a legal process in which a lender takes over ownership of a property when the borrower [...]
Phoenix AZ Foreclosures fell slightly in September 2009
There are some positive signs coming from metropolitan Phoenix’s housing market. Foreclosures dropped slightly in September, while home prices inched up again.
• Last month, lenders foreclosed on 3,759 Valley homes, an almost 5 percent drop from August, according to the Information Market. It’s the second month in a [...]