AGBeat » foreclosures

Completed foreclosures drop 24% over the year

Tara Steele — Thu, 09 Feb 2012 08:10:26 +0000

A shift in foreclosures CoreLogic released its first national Foreclosure Report which provides monthly data on completed foreclosures, foreclosure inventory and 90+ delinquency rates, reporting that completed foreclosures for all of 2011 totaled 830,000 compared with 1.1 million in 2010. CoreLogic notes that since September 2008, there have been approximately 3.2 million completed foreclosures. Completed foreclosures fell from November (57,000) [...]

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Several states hold out, one leaves $25B mortgage settlement talks

Tara Steele — Wed, 08 Feb 2012 06:42:11 +0000

Settlement talks in limbo AGBeat has had a close eye on multi-state talks with the largest banks as over a year ago, all 50 states’ Attorneys Generals committed to negotiate terms on behalf of homeowners abused by banks leading up to and during the housing crash. Monday was the final deadline for all 50 states to declare whether they were [...]

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One in five homes sold in third quarter were distressed homes

Tara Steele — Fri, 27 Jan 2012 03:48:19 +0000

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 [...]

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Serious mortgage delinquency rates slowing

Tara Steele — Thu, 29 Dec 2011 05:30:02 +0000

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 [...]

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Distressed homes pull prices down, recovery not likely to be in 2012

Tara Steele — Thu, 22 Dec 2011 02:50:23 +0000

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

Tara Steele — Sat, 03 Dec 2011 04:06:28 +0000

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 [...]

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As mortgage delinquencies drop, foreclosure inventories rise

Tara Steele — Fri, 02 Dec 2011 04:56:00 +0000

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 [...]

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Mortgage rates up, foreclosure activity drops 40% from 2010

Tara Steele — Fri, 14 Oct 2011 05:00:51 +0000

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 [...]

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Foreclosure townhome abandoned, rats chewing through neighbor’s walls

Tara Steele — Mon, 12 Sep 2011 05:04:52 +0000

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 [...]

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One in every 611 homes received a foreclosure filing in the second quarter

Tara Steele — Fri, 26 Aug 2011 05:08:01 +0000

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 [...]

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