Thousands of RE/MAX Web sites this week have added foreclosure property search features thanks to a new partnership between four independently owned RE/MAX regions, Web developer Reliance Network and foreclosure data provider RealtyTrac.
RE/MAX Web sites in Northern Illinois, New Jersey, Kansas, Missouri, Oklahoma, Arkansas, Alabama, Louisiana, Mississippi and Michigan have gone live with the new foreclosure search feature, the company said in an announcement.
The respective RE/MAX Web sites for these states are: illinoisproperty.com, remax-nj.com, remax-midstates.com, remax-oklahoma.com, remax-arkansas.com, remax-alabama.com, remax-louisiana.com, remax-mississippi.com, and remax-michigan.com.
The same search feature is also available through individual agent Web sites in these regions, the company said.
In 2007, more than 2.2 million foreclosure filings — default notices, auction-sale notices and bank repossessions — were reported on more than 1.2 million properties nationwide, according to RealtyTrac. This represents a 75 percent increase in total filings from 2006.
The number of foreclosures is expected to continue increasing in 2008 as millions of adjustable-rate mortgages with teaser rates reset.
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