A total of 2,203,295 foreclosure filings were reported on 1,285,873 properties nationwide during 2007, a 75 percent increase in total filings from 2006, according to the RealtyTrac U.S. Foreclosure Market Report. The report also shows an annual foreclosure rate of one foreclosure filing for every 57 U.S. households, up from one foreclosure filing for every 92 households in 2006. A total of 215,749 foreclosure filings were reported in December, up 97 percent from December 2006 and bringing the fourth-quarter total to 642,150 filings on 527,740 properties — up 1 percent from the previous quarter and up 86 percent from the fourth quarter of 2006. Complete Story

The bullish stock market began showing some cracks in the foundation in late July as fresh evidence revealed that real estate woes on Main Street are inflicting a bigger-than-expected toll on debt-weary homeowners and their lenders — and by extension on Wall Street investment banks with portfolios that invested heavily in securities backed by risky mortgages. Mirroring the weak state of the real estate market, these banks saw defaults and foreclosures on those mortgages swell and the value of their portfolios fall. Complete Story

If anyone has the inside track on financing for real estate deals, it would be Ram Perilall. But this New York mortgage broker — who also buys, rehabs and sells foreclosure properties — said he’s coming to the end of his rope in the current lending climate. Perilall said in the three years he’s been investing he’s often taken out 100 percent loans that rely on stated income and don’t require high credit scores. That allowed him to act quickly on deals without wading through time-consuming paperwork. Perilall’s experience parallels what senior loan officers at 53 domestic banks and 20 foreign banks reported in a survey conducted in July.

Washington reported 2,016 foreclosure filings in December, an 18 percent decrease from the previous month, but still a 60 percent increase from December 2006. “Although Washington foreclosures have increased since this time last year, they appear to be headed downward,” said James J. Saccacio, chief executive officer of RealtyTrac. “As of the third quarter last year, Washington held the fifth highest home price appreciation rate in the country, and its unemployment rate decreased significantly. If these trends continue, it is likely that we will see foreclosures continue to decline in Washington.” Complete Story

Training programs for real estate investors sometimes seem as numerous as real estate investors themselves. Sorting through all the hype and promises from these programs can be tricky and can cost prospective investors thousands of dollars with nothing to show for it — if they are not careful to do their homework up front. Complete Story