Real Estate Consumer News » Foreclosures

U.S. Foreclosure activity decreasing in the west and on the rise in the midwest and east

Dennis Norman — Thu, 17 May 2012 17:52:41 +0000

This morning, RealtyTrac released their U.S. Foreclosure Market Report for April 2012 which shows that foreclosure filings (default notices, scheduled auctions and bank repossessions) we’re reported on 188,780 properties in the U.S. during the month, a 5 percent decrease from the previous month and a decrease of 14 percent from April 2011 and is [...] Related posts:

Austin, Texas, Man Sentenced to 61 Months in Federal Prison for Bankruptcy Fraud and Identity Theft in Connection with Nationwide Foreclosure-rescue Scheme

Bob — Fri, 04 May 2012 00:43:08 +0000

An Austin, Texas, man was sentenced today in the Western District of Texas to 61 months in prison and was ordered to forfeit $84,010 for his role in operating a foreclosure-rescue scam in Southern California and elsewhere that charged distressed homeowners fees in exchange for fraudulently delaying foreclosure sales. [...] Related posts:

REO’s bolstering home prices; REO home price gains outpacing fair market prices

Dennis Norman — Tue, 01 May 2012 20:56:46 +0000

Clear Capital just released it's Home Data Index™ (HDI) for April, which reveals that REO's, which have been a drag on the market for several years now by bringing home prices down, are actually help bolster prices as a result of investor demand for REO's for rentals. REO home price gains (on a price per foot basis) are "vastly outpacing fair market prices on a national level" according to the report. [...] Related posts:

Foreclosure activity falls to lowest level since 2007

Dennis Norman — Thu, 12 Apr 2012 20:49:11 +0000

This morning, RealtyTrac released their U.S. Foreclosure Market Report for the first quarter of 2012 which shows that foreclosure filings (default notices, scheduled auctions and bank repossessions) we're reported on 572,928 properties in the U.S. during the quarter, a 2 percent decrease from the previous quarter and a decrease of 16 percent from the first quarter of 2011. During the month, 1 out of every 230 homes in the U.S. had a foreclosure filing. [...] Related posts:

Foreclosures and mortgage delinquencies drop in February; good news for the real estate market

Dennis Norman — Wed, 04 Apr 2012 00:38:17 +0000

Foreclosure starts and foreclosure sales were down in February 15 and 19 percent respectively from January according to the latest Mortgage Monitor report released by Lender Processing Services, Inc. today. The report also showed that mortgage delinquencies continue to decline as well with 7.57 percent of the homes in the U.S. with a mortgage being [...] Related posts:

Lower Foreclosure Rates than a Year Ago for Sixty-One of the Top 100 Major Markets

Dennis Norman — Thu, 29 Mar 2012 15:00:23 +0000

The U.S. foreclosure rate in February was 3.4 percent of all homes with a mortgage, the same rate as the month before and down slightly from a year before when the rate was 3.6 percent. The U.S. mortgage delinquency rate in February was 7.3 percent, up slightly from the month before when the rate was 7.2 percent but down significantly from a year before when the rate was 7.8 percent. [...] Related posts:

Mortgage delinquencies continue to decline; good news for the real estate market!

Dennis Norman — Thu, 22 Mar 2012 10:58:30 +0000

The U.S. mortgage loan delinquency rate was 7.57 percent of all home loans in February, down 5.0 percent from the month before and down 14.0 percent from a year ago, according to the "First-Look" report issued by Lender Processing Services, one of the countries largest loan servicers and aggregators of loan performance data. The foreclosure presale inventory rate was 4.13 percent in February, a 0.5 percent decrease from the month before and a 0.3 percent decrease from a year ago [...] Related posts:

Report shows For Every Two Homes Available for Sale, There Is One in the "Shadow"

Dennis Norman — Wed, 21 Mar 2012 14:40:35 +0000

st-louis-realtor-dennis-norman-shadow-inventory-corelogicA report released this morning by CoreLogic shows that the current residential "shadow" inventory as of January 2012 was 1.6 million units, equivalent to a 6-months' supply, and approximately the same level last reported in October 2011. The shadow inventory is down from a year ago though, when it was at 1.8 million units, or an 8-months' supply. Currently, the flow of new seriously delinquent (90 days or more) loans into the shadow inventory has been offset by the roughly equal flow of distressed sales (short and real estate owned), according to the report. "Almost half of the shadow inventory is not yet in the foreclosure process," said Mark Fleming, chief economist for CoreLogic. "Shadow inventory also remains concentrated in states impacted by sharp price declines and states with long foreclosure timelines." [...] Related posts:

Foreclosure report shows mixed signals; rate down in U.S. but half of large metros up from a year ago

Dennis Norman — Thu, 15 Mar 2012 20:31:49 +0000

This morning, RealtyTrac released their U.S. Foreclosure Market Report for February 2012 which shows that foreclosure filings (default notices, scheduled auctions and bank repossessions) we're reported on 206,900 properties in the U.S. during the month, a 2 percent decrease from the previous month and a decrease of 8 percent from the year before. During the month, 1 out of every 637 homes in the U.S. had a foreclosure filing. [...] Related posts:

Bank of America, J.P. MOrgan Chase, Wells Fargo, Citigroup and Ally Financial reach $25 Billion Agreement with Fed & State Government over Foreclosure Abuses

News Desk — Mon, 12 Mar 2012 17:31:55 +0000

The Justice Department, the Department of Housing and Urban Development (HUD) and 49 state attorneys general announced today the filing of their landmark $25 billion agreement with the nation’s five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses. [...] Related posts: