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RE: Nova Scotia foreclosures way up in last 3 years

Postby controlfreq7 » Thu Sep 09, 2010 07:04:31 AM

Do you have any links or references for the NS Dept of Justice or the Sheriff's office on those stats? I need to prepare a financial report and need to include stats on foreclosures in NS, but, according the NS DoJ they do not keep those types of stats, and forwarded my email to another dept, from whom I haven't heard back from.

Thanks.
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RE: Nova Scotia foreclosures way up in last 3 years

Postby KarenBrandon » Sat Nov 21, 2009 02:33:54 AM

It is true that the foreclosures are increasing.But there are lot of people making money through theses foreclosure homes.Visit www.m3reo.com
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RE: Nova Scotia foreclosures way up in last 3 years

Postby montyloree » Wed Mar 04, 2009 12:06:14 PM

Relatively speaking... that's not a bad number. ... compared to the u.s.

i'm curious to know what's driving the foreclosures. aside from the bad economy.
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Nova Scotia foreclosures way up in last 3 years

Postby average_joe » Wed Mar 04, 2009 10:09:17 AM

Halifax county foreclosures up 20 per cent.

The worsening economy is taking its toll on homeowners in Nova Scotia, where the number of foreclosures has climbed dramatically in the past three years.

In 2008, there were 438 foreclosures, up from 363 in 2007 and 345 in 2006, according to Nova Scotia Department of Justice figures released Tuesday.

In Halifax county alone, there were 138 foreclosures, up 20 per cent over the last year, says the sheriff's office in Halifax.

"Our experience for November is that the number of insolvencies is up," Stan Hopkins, partner at Pricewaterhousecoopers, told CBC News.

"Although [homeowners are] able to maintain their payments as long as nothing goes wrong, as soon as you get someone's hours cut back or any type of thing changing, that's where the pressure comes on."

Earlier Tuesday, a foreclosed house on Atikian Street in Eastern Passage was sold at a Halifax sheriff's auction for $2,694.51, to a bank representative who was the sole bidder.

"There's been a lot of foreclosures on this street and in the area," Derek Stewart, who owns another house on the street, told CBC News.

Stewart bought his house two years ago with a zero down payment and a 40-year mortgage. His home is now worth $15,000 less than his mortgage.

A married father of three, he used to work for a national furniture company. He was unemployed for eight months before landing his current job selling giftware in Canada and the United States.

Stewart now takes home a lot less than he used to when he was employed with the furniture company.

"There's never been a question of putting food on the table, or paying the bills or keeping the lights on," said Stewart.

"Now with the way the economy is and with … the position we're in with the house now, it's hard to say what could happen."

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