Keyword: foreclosures
One in five homes sold in third quarter were distressed homes
Foreclosure sales data One in five homes sold in the third quarter of 2011 were distressed homes, according to the most recent data, reported today by RealtyTrac, down from 30 percent in the third quarter of 2010, and dropping 11 percent from the second quarter. The average foreclosed home sold in the third quarter took 193 days to sell, up ...
Serious mortgage delinquency rates slowing
Serious mortgage delinquency rates slowing According to Foreclosure-Response.org, the serious mortgage delinquency rate in the 100 largest metropolitan areas experienced a slow decline from 10.4 percent at its peak in December 2009, down to 9.3 percent in June 2011, the most recent month of full data. Mortgages are considered seriously delinquent when at least 90 days late which includes pre-foreclosure ...
Distressed homes pull prices down, recovery not likely to be in 2012
Distressed homes pulling prices down According to the Campbell/Inside Mortgage Finance survey, half of all homes sold in November were either short sales or REOs with most selling at a discount compared to typical resale homes or new homes with the average price averaging $209,000 in November compared to non-distressed homes which averaged $259,000. Isolating REO properties in move-in condition, ...
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Fannie Mae, Freddie Mac freeze evictions over the holidays
Fannie, Freddie hit the pause button During the holidays, various banks and government organizations sometimes freeze evictions so that families can enjoy their holiday without fear of the Sheriff and moving company knocking on the door to remove them. Like last year, Fannie Mae and Freddie Mac have announced that “certain home evictions” will be suspended between December 19th and ...
As mortgage delinquencies drop, foreclosure inventories rise
State of foreclosures Mortgage delinquencies are down nearly a third from their peak in January 2010, according to the latest Lender Processing Services Inc. (LPS) October Mortgage Monitor report which reveals a steady decline in overall delinquency. The total loan delinquency rate in America is currently at 7.93 percent, dropping a full 2 percent from September. Meanwhile, foreclosure pre-sale inventories ...
Mortgage rates up, foreclosure activity drops 40% from 2010
Mortgage rates on the rise After mortgage rates dropped below four percent for the first time, they are back on the rise, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS) which shows the average fixed mortgage rates are up sharply from the previous (and historic) week, and although they remain hear their sixty year lows, with Freddie Mac pointing ...
Foreclosure townhome abandoned, rats chewing through neighbor’s walls
Foreclosures frustrating neighbors “House full of rats” is the sign homeowner Lynn McGee hung on her neighbor’s door after desperately trying to get someone, anyone, to take responsibility for the rat infestation in the townhouse attached to her that has been vacant and in foreclosure for two years. McGee says the rats have gnawed into her home, chewing through power ...
One in every 611 homes received a foreclosure filing in the second quarter
Foreclosures still high Despite the robo-signing debacle slowing down foreclosures as the processing and servicing is rapidly changing, foreclosures remain high and homes in default or scheduled for auction rose 6.5 percent in the second quarter from the first, according to RealtyTrac. In July 2011, one in every 611 homes received a foreclosure filing and the average sales price on ...
Squatters in foreclosures claim deed ownership under religious sovereignty
Squatters claiming rights to foreclosed homes Officials are seeing a rise in false claims of individuals claiming they have the right to seize foreclosed properties in North Carolina, California, and Virginia where people are living in empty foreclosure homes. Last week, a Realtor took a couple on a tour of a $700,000 foreclosed home in North Carolina where two men ...
Homeowners foreclose on Bank of America office, trend emerging
Bank of America illegally forecloses on homeowners We’ll preface this story by noting that the saddest part of all is that nothing about the video above and what we’ll report below is of any surprise to us and probably no surprise to you. Stories like these are pouring in and consumers are finding ways to get back at the banks ...
Existing home sales are up and prices are down – is a recovery coming?
Swinging the pendulum These past few years have been nothing short of a roller coaster ride and economists still do not agree as to when a recovery will arrive and at what pace. Each leading economic indicator is produced by a different company and is used by different analysts for different reasons. For example, traditional news outlets and national forecasters ...
Banks giving loan modifications but only if homeowners waive legal rights
Banks and lenders with new requirements It has been a dramatic year in the lending industry with changing requirements[1], news that half of the housing market is now distressed[2], and endless infighting over how to resolve the robosigning debacle wherein banks illegally (or “wrongfully” if we’re being politically correct) foreclosed on homes[3]. Some homeowners have stood up against banks by ...
Benn Rosales
Conal Campbell
Elijah May
Lani Rosales
Tara Steele
Marti Trewe
Charlene Jimenez
