Dennis Norman

When I first entered the real estate business in 1979, at the age of 18 which seems so long ago) foreclosures were a mystery to most people and certainly no one looking for a home to live in looked to buy a foreclosure. Homes that were being foreclosed upon were advertised in [...] Related posts:

1. Nearly 233,000 Foreclosure and Bank-Owned Homes Sold in First Quarter
2. Las Vegas, Cape Coral, Merced Foreclosure Rates Highest Among Major Metro Areas in 2009
3. Foreclosure Activity Decreases 9 Percent in April

A report published by Lender Processing Services (LPS) analyzing homeowner’s performance on their mortgages as of July 2010 shows that mortgage delinquencies continue to decline however are still at very high levels versus historical norms.   At the same time however, foreclosure starts have increased to the fourth highest level on record.

Highlights from [...] Related posts:

1. Foreclosure and Mortgage Delinquency Rates Stabilizing
2. Foreclosures continue at record rate; a new one every 13 seconds
3. Mortgage Delinquencies Fall in 1st Quarter; First Decline Since 2006

The U.S. Department of the Treasury has announced yet another new plan to help homeowners avoid foreclosure. This plan targets homeowners that are struggling with unemployment and offers two foreclosure-prevention programs to help them.

The first program will be through the existing Housing Finance Agency (HFA) Innovation Fund for the Hardest [...] Related posts:

1. Help for homeowners facing foreclosure or are underwater
2. New alternative for some homeowners facing foreclosure; Deed for Lease
3. Help for homeowners facing foreclosure

Dennis Norman

I remember, not that long ago, when 300,000 foreclosures in a month would have seemed unreal.  However, July now marks the 17th consecutive month that there have been foreclosure filings exceeding 300,000 for the month.

Other highlights from the report-

1. Foreclosure Activity Decreases 9 Percent in April
2. U.S. Foreclosure Activity Decreases 10 Percent in January
3. Foreclosure Activity Drops 3 Percent in May; 15th Consecutive Month of Over 300,000 Foreclosure Actions

Dennis Norman

A report just issued by Zillow shows that home values in the United States continued to decline in the second quarter of 2010, with the Zillow Home Value Index falling 3.2 percent year-over-year and 0.6 percent from the first quarter to $182,500. The national rate of decline decelerated from the [...] Related posts:

1. Homeowners with negative equity declines for second consecutive quarter
2. Home Prices Lose Momentum and Fall in First Quarter
3. Fewer home owners are underwater on their homes according to Zillow report

Dennis Norman

According to a report released this morning by RealtyTrac there were 1,961,894 foreclosure filings in the first six months of 2010 on 1,654,634 housing units in the U.S. This reflects a 5 percent decrease from foreclosure activity for the prior 6 month period but is an 8 percent increase from the same [...] Related posts:

1. Foreclosure Activity Increases In July; Down from a year ago
2. Foreclosure Activity Drops 3 Percent in May; 15th Consecutive Month of Over 300,000 Foreclosure Actions
3. Foreclosure Activity Decreases 9 Percent in April

Dennis Norman

For way too long I’ve been writing about record, or near- record, levels of foreclosures and mortgage delinquencies. My ongoing concern about this, in terms of the housing market, is that I just don’t see how we are going to have a sustainable recovery of the housing market while we have [...] Related posts:

1. Foreclosure Activity Drops 3 Percent in May; 15th Consecutive Month of Over 300,000 Foreclosure Actions
2. Delinquent Home Mortgages 21.3 Percent Higher Than Last Year; Foreclosure Rates at Record High
3. Foreclosure Activity Decreases 9 Percent in April

Dennis Norman

Homeowners’ mortgage delinquency rates increased in May 2.3 percent from April rising to 9.2 percent of all mortgages being delinquent. This information comes from a report issued by LPS Applied Analytics, one of the largest mortgage servicers in the U.S.

According to the report there are, as of May 31, 2010, 7.3 million home [...] Related posts:

1. Mortgage delinquencies set new record in third quarter
2. Mortgage Loan Delinquencies on track to set record in 2009
3. Mortgage Delinquencies Fall in 1st Quarter; First Decline Since 2006

Dennis Norman

Average discount on Foreclosure and Bank-Owned Homes is 27 Percent

This morning RealtyTrac released a report stating that 31 percent of all residential sales in the first quarter of 2010 were foreclosure homes or bank-owned homes.  They are reporting 233,000 foreclosure and bank-owned homes sold during first quarter 2010 at an average price discount [...] Related posts:

1. Foreclosure Activity Drops 3 Percent in May; 15th Consecutive Month of Over 300,000 Foreclosure Actions
2. The Five Best Places to Find Foreclosure Bargains
3. Foreclosures in third quarter 2009 increase 23 percent from a year ago

Dennis Norman

According to a report issued by Radar Logic Incorporated government-sponsored enterprises (GSEs) and Federal agencies involved in housing finance currently have an inventory of over 200,000 repossessed homes. Being the largest owner of foreclosed homes in the U.S. gives the government a lot of power and influence over the [...] Related posts:

1. Is The Government Going to Push Us Into Another Housing Bust?
2. Tips from the Federal Reserve for avoiding foreclosure scams
3. Fannie Mae offering buyers incentives on HomePath Properties