Aug - 31st
When is the next wave of foreclosures coming?
Posted at 6:14 pm | Filed Under Real Estate
This Diana Olick blog post might help you answer that question:
Now that Making Home Affordable programs are operational, we do project an increase in foreclosures as we exhaust every available option to qualify customers for modifications and other solutions.
While we have very strong loan modification programs now available, unfortunately, these foreclosure projections reflect the increasing […]
Aug - 26th
Tim Geithner answers your questions
Posted at 5:09 pm | Filed Under Politics, The Economy, Real Estate
Aug - 26th
The next “leg down” for the housing market
Posted at 4:59 pm | Filed Under Credit Crunch, California Housing Crash, Florida Housing Crash, Real Estate
If you think the housing market is recovering, you are probably wrong. According to the NY Times:
First American CoreLogic anticipates 600,000 option ARMS to reset within four years.
Option ARMs, which lenders stopped offering last year, gave borrowers four payment options: less than the interest, which increases the balance every month; just the interest; the equivalent […]
Aug - 25th
California delinquencies continue to rise
Posted at 11:04 am | Filed Under California Housing Crash, The Economy, Real Estate
More bad news for the Golden State. According to the LA Times:
TransUnion expects the percentage of California home loans that are at least 60 days late or are in foreclosure to skyrocket to more than 14% by year-end.
Mortgage delinquencies will continue to rise and set records the rest of this year in California, according to […]
Aug - 22nd
Foreclosures keep going up in Florida
Posted at 2:38 am | Filed Under Florida Housing Crash, Real Estate
The housing crash in Florida is getting worse. According to the Miami Herald:
As home prices fell and the job picture worsened, the percentage of Florida home loans either past due or in foreclosure hit 23 percent in the second quarter, outpacing any other state in the nation.
The figure represents 807,000 loans, a staggering sum […]
Aug - 20th
Prime fixed-rate mortgage delinquencies increased in Q2
Posted at 12:24 pm | Filed Under The Economy, Real Estate
We have been saying this for a long time here on our blog and the latest numbers from the Mortgage Bankers Association (MBA) confirmed it. Our current foreclosure mess is not a subprime problem anymore, but it is now moving to prime mortgages. According to the MBA:
The delinquency rate for mortgage loans on one-to-four-unit residential […]
Aug - 13th
RealtyTrac: Initial defaults (NOD) in California spiked 15 percent from the previous month
Posted at 5:51 pm | Filed Under California Housing Crash, Florida Housing Crash, The Economy, Real Estate
The foreclosure mess continues….
Here is the RealtyTrac news release
IRVINE, Calif. — August 13, 2009 — RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its July 2009 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 360,149 U.S. properties during the month, […]
Aug - 13th
More houses going into foreclosure in California
Posted at 11:25 am | Filed Under California Housing Crash, Real Estate
According to the LA Times:
July stats from ForeclosureRadar show that the backlog of California homes in default, but not yet repossessed, keeps growing.
At some point, many of these properties will be repossessed and put back on the market. Some may be kept by the current owners through loan modifications, but that hasn’t happened much so […]
Aug - 13th
The foreclosure mess continues
Posted at 9:42 am | Filed Under Real Estate
More bad numbers from RealtyTrac this morning:
The foreclosure plague continued to devastate last month.
There were more than 360,000 properties with foreclosure filings — including default notices, scheduled auctions and bank repossessions — an increase of 7% from June and 32% from July 2008, according to RealtyTrac, an online marketer of foreclosed homes. In fact, one […]
Aug - 12th
Bloomberg: Home Price Declines Accelerate
Posted at 10:48 am | Filed Under The Economy, Real Estate
Here is an interesting piece of the article on Bloomberg:
Aug. 12 (Bloomberg) — Home price declines in the U.S. accelerated in the second quarter, dropping by a record 15.6 percent from a year earlier, as foreclosures weighed on values.
The median price of an existing single-family home dropped to $174,100, the most in records dating […]
