U.S. Home Foreclosures Jump
U.S. Home Foreclosures
In a report just out by RealtyTrac®, shows that U.S. foreclosure activity in October increased by 15 percent from September, but still down 8 percent from a year ago. The October monthly increase was the largest month-over-month increase since U.S. foreclosure activity peaked in March 2010.!
Home foreclosure auctions increased from a year ago in 29 states, including Oregon (up 399 percent), North Carolina (up 288 percent), New Jersey (up 118 percent), New York (up 89 percent), Connecticut (up 60 percent), Nevada (up 53 percent), Alabama (up 41 percent), Washington (up 36 percent), Indiana (up 36 percent), California (up 19 percent) and South Carolina (up 18 percent). Read more 
Home Foreclosures Near 6-year Low
Home Foreclosures
RealtyTrac Inc. reported today that the US housing market is on track to finish the year with the fewest homes repossessed by lenders in the last six years!
Last month lenders 36,964 homes, this was down 31% from July 2012! Home foreclosures are projected to be approximately 490,000 this year, although the sound like a lot, it’s actually down approximately 27% from last year’s totals. Read more
Home Foreclosures Drop To 2007 Levels
Home Foreclosures Drop
Just reported today: According to foreclosure-data firm RealtyTrac the number of homes getting a foreclosure filing, hit a 49-month low in December, as legal issues, documentation delays and weak housing demand all served to stall the processing of mortgage delinquencies. Read more
California Home Foreclosure
California Home Foreclosure Process
California home foreclosure
The Foreclosure Procedure Includes
Home Foreclosure – Five Events
Event 1: Missing a Single Payment – The foreclosure procedure may begin when you miss a single monthly mortgage loan payment (delinquency). A
lender or its servicing agent is required to contact the homeowner 30 days in advance if initiating foreclosure. Read more
Home Foreclosures Likely to Rise
Banks have stepped up their actions against homeowners who have fallen behind on their mortgage payments, setting the stage for a fresh wave of foreclosures. Read more
Home Foreclosures
San Diego real estate – home foreclosures
San Diego real estate
Being in the trenches … the front line of local San Diego real estate activity, it’s hard for me to believe that we just passed through the “Summer of recovery” at least it was according to this administration’s proclamations.
Although many of the real estate reports for San Diego indicate that sales have increased last month, they also show that home prices have continued to fall. The sales increase in my opinion can be totally attributed to normal seasonal factors. What is really troubling, is the fact that during our seasonally strong traditional marketing period which just ended last month, home prices in San Diego were still in decline. Read more
Home Foreclosures 51% of California Home Sales
home foreclosures
Home Foreclosures
The foreclosure listing firm RealtyTrac Inc. said in a report today that home foreclosures accounted for 31 percent of the market in the second quarter of 2011. The good news was that this was a smaller share of sales when compared to the previous quarter. Unfortunately this percentage of home foreclosure sales is approximately six times the amount that would be seen in a normal housing market! Read more
Real Estate Foreclosures
real estate foreclosures
Real estate foreclosures — According a report by RealtyTrac, one out of every 9 homes in Las Vegas received some kind of default notice in 2010. But there is some good news: The foreclosure rate is actually dropping in Vegas, down 7% compared to the end of 2009. In fact, rates fell in all top 10 foreclosure markets of 2010. Read more
Real Estate Short Sale
short sales
What is a short sale? To put it simply, a short sale transaction is a sale of a property in which the outstanding debt (in the form of mortgages – such as purchase loans, refinance loans, home-equity loans, or one of the various other types of loans secured by your property) was more than the price for which the property was sold. Example: 1st and 2nd mortgages totaled $470,000.00 and the property was sold for $325,000.00. The sale price was $145,000.00 “short” of the amount that the seller had originally borrowed – thus the term “short sale.” Since the banks/lenders were essentially paid back less than what you borrowed, you could be deemed to have received a debt “forgiveness” of $145,000.00. A sale of this type requires bank/lender approval. Read more
Shadow Inventory of Homes
foreclosure homes
Standard & Poor’s says their estimated liquidation timeline covering the nation’s backlog of distressed real estate actually increased in the past few months.
The ratings agency now estimates it will take 44 months — up 25% percent from an estimate made just three months ago — to clear the so-called shadow inventory of homes in distress or foreclosure, but not yet on the resale market. Some markets are significantly more impaired when compared to others, the agency concluded.
In September, Standard & Poor’s estimated it would take 40 months.
“Our recent estimates of months to clear have increased primarily as a result of the deceleration of the distressed property liquidation rate rather than a rise in overall distressed property levels,†according to analysts in a research report emailed to HousingWire.