Tag Archives: Foreclosure

Foreclosure Timeline Lengthened 140 Days Over Last Year

Posted on November 2, 2011 by admin

Mortgages backing homes that were foreclosed on in September had been delinquent for an average of 624 days, according to Lender Processing Services (LPS). That’s up from 484 days in September of last year, just before the processing issues surfaced. … Continue reading →

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Years of Foreclosures Ahead

Posted on November 1, 2011 by admin

The housing market faces several more years with 800,000 to 1 million new foreclosed properties per year, according to Rick Sharga, an executive vice president with Carrington Mortgage Services.  Sharga recently left RealtyTrac, where he helped build a network that … Continue reading →

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Home Builders Face New Hurdles

Posted on August 17, 2011 by admin

Builders are on track to construct the fewest single family homes in history this year. Total housing starts in July were down 1.7 percent, month to month, which may not sound like a lot, but when you break the number down, you see the problem. Continue reading →

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Home Sales Dampened by Declining Consumer Confidence

Posted on June 16, 2011 by admin

According to Freddie Mac’s latest market outlook, over the first four months of 2011, sales of existing homes are up 5 percent from the pace of 2010 — in line with the GSE’s earlier projections of a 5 percent annual … Continue reading →

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Fannie Freddie mortgage mods drop 28% in Q1

Posted on June 7, 2011 by admin

Fannie Mae and Freddie Mac servicers provided 86,201 modifications in the first quarter, down 28% from the previous quarter, according to the Federal Housing Finance Agency.  The drop comes after modifications fell 18% in the fourth quarter. Combined with repayment … Continue reading →

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OUCH! Home Prices Have Officially Double-Dipped!!

Posted on May 5, 2011 by admin

The national home price index from Clear Capital has officially entered double-dip territory.  The company says data through the end of April has pushed its reading of national home prices 0.7 percent below the prior low recorded in March 2009, … Continue reading →

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Real Estate Markets Show Some Signs of Life at Top and Bottom

Posted on April 25, 2011 by admin

Four years after US housing prices began to nose-dive, eventually triggering a global financial crisis, signs of life are appearing at the top and the bottom ends of the market. By contrast, a sustained recovery remains far off for the … Continue reading →

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Report: Fewer Distressed Sales in California

Posted on April 25, 2011 by admin

While the share of distressed sales – REOs and short sales – is on the rise when tallying numbers nationwide, it’s falling in California. The California Association of Realtors (C.A.R.) reports that the total share of all distressed property types … Continue reading →

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Fannie Mae To Offer 3.5% Buyer Assistance on REO Properties

Posted on April 12, 2011 by admin

Fannie Mae announced Monday that borrowers purchasing a Fannie Mae-owned property through HomePath, the GSE’s REO disposition operation, will receive up to 3.5 percent in closing cost assistance. The initial offer must be submitted on or after April 11, 2011, … Continue reading →

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New Home Builders Get Into the Foreclosure Game

Posted on April 6, 2011 by admin

“We didn’t need KB Home’s dismal quarterly earnings release to tell us that foreclosures are digging home builders into an even deeper hole.  We knew that already; this just put a period on it.  KB caters to first time home … Continue reading →

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