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Article

Title: Yahoo Offers Page to Help Find Foreclosure Property

Author: DeBare, Ilana Article Type: Company
Source: San Francisco Chronicle, pC1(2) Publication Date: Apr 5, 2007
URL of Publication: http://www.sfgate.com

Yahoo! Inc. has introduced an online Foreclosure Center. This site provides tips about how to purchase foreclosed properties and lets users search for such properties by ZIP code. Executives at Yahoo! say they started the service to help the average house-hunter find bargains. While Yahoo! has allowed its users to search for foreclosed property for several years, the company has now created a page that is dedicated to that service and added information articles and statistical information. According to Michael Yang, general manager of Yahoo! Real Estate, foreclosures offer a huge opportunity for savings, but average home buyers tend to be in areas where their access to information about foreclosures is limited. The site at Yahoo! provides an easy alternative to making a visit to the county recorder's office and looking through foreclosure filings by hand. And the number of foreclosures is rising. Real estate experts and consumer advocacy organizations have estimated that between 1.1 million and over 2.2 million homeowners in the United States could lose their property through foreclosure in the next several years. The rise in number of foreclosures throughout the country is due to several factors, including the fact that buyers may take on of risky or exotic mortgages only to find that their property has not appreciated in value as much as they expected.

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Yahoo! Inc

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