Dynamic Ventures Corporation has announced its intent to enter the $250 billion real estate-owned (REO) services market. The company has drafted a term sheet with an investment group to raise between $6-$10 million dollars to take advantage of the current opportunity in the credit markets by acquiring and reselling distressed residential REO properties. This investment will be targeted in and around the Phoenix metro area.Click to continue

Foreclosure Deals, an online provider of foreclosed home sale listings and information industry, has announced that foreclosures increased by four percent nationwide during July and still have fallen in the month of August. The month's total of 325,225 homes represents a 10 percent decrease from foreclosure totals in June 2009, and indicate that the trend of rising bank repossessions is continuing well into the summer.Click to continue

RealtyTrac, an online marketplace for foreclosure properties, has released its January 2010 U.S. Foreclosure Market Report, which shows foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 315,716 U.S. properties during the month, a decrease of nearly 10 percent from the previous month but still 15 percent above the level reported in January 2009. The report also shows one in every 409 U.S. housing units received a foreclosure filing in January.Click to continue

Minh-Vu Hoang of Bethesda, Md. has pleaded guilty to conspiracy to defraud the Internal Revenue Service (IRS) and the U.S. Bankruptcy Trustee in connection with a scheme to conceal millions in profits earned from the purchase and sale of foreclosure properties. The guilty plea was announced by United States Attorney for the District of Maryland Rod J. Rosenstein; Special Agent in Charge C.Click to continue

RealtyTrac, an online marketplace for foreclosure properties, has released its October 2009 U.S. Foreclosure Market Report, which shows foreclosure filings—default notices, scheduled foreclosure auctions and bank repossessions—were reported on 332,292 U.S. properties during the month, a decrease of three percent from the previous month, but still up nearly 19 percent from October 2008. The report also shows one in every 385 U.S. housing units received a foreclosure filing in October.Click to continue