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An update on the President's proposal for “a plan that gives every responsible homeowner the chance to save about $3,000 a year on their mortgage by refinancing at historically low interest rates".
Finishing the foreclosure process and unloading the REO are two different things. REOs once linked to subprime loans continue to take the longest to sell.
The company behind the FICO scoring model published a "What If?" series for common, specific credit missteps. See how your scores can change with a foreclosure, missed payment, maxed credit card, and more.
Default notices made their biggest one-month jump since August 2007 last month, on the way to a 9-month high. This may foreshadow a large number of bank repossessions in the months ahead.
According to foreclosure-tracking firm RealtyTrac, the number of foreclosure filings dropped 29 percent nationwide on an annual basis in June.
Foreclosure counts have dropped over 16 consecutive months, dating back to January 2010. And they sell at 20% discounts to "regular homes".
If you're shopping for bank-owned homes, supplies may be limited. Foreclosure filings are down 35% since last year. That's a big number. See how your state stacks up.
If you're in the market for "a good deal" -- as an investor, first-timer, or move-up buyer -- here's a guide for where to find foreclosures. Hey -- they're 15% off.
For the first time since February 2009, the monthly foreclosure filings retreated below 300,000. The pace of foreclosures is slowing nationwide. Or is it?
I gave a television interview with Beejal Patel of First Business. The timing was excellent given the FOMC had just adjourned. In 3-and-a-half minutes, the interview covers a lot of ground. Watch it now.
The average sale price on a home in some stage of foreclosure was 26 percent lower last month than homes *not* in some stage of foreclosure.
NAR says home buyers get a "distressed home discount" of roughly 15 percent. Banks are working to reduce that number.
The 80/20 Rule no longer holds true with respect to foreclosures. In Q2 2010, the 10 most foreclosure-heavy states now account for just 70 percent of foreclosures. That's a big drop for a 12-month period. Based on RealtyTrac data, foreclosures haven't been this un-concentrated since 2007.
The National Association of Realtors® says the typical "distressed home discount" ranges near 15 percent. Buying foreclosed homes can be an excellent value if you find REO in livable condition.
There's 11 days left to claim the government's home buyer tax credit and if you're among the thousands of buyers with their sights on foreclosures, the timing may be perfect. There's been 257,000 new bank REOs since January.
Foreclosure-related filings topped 300,000 last month, according to foreclosure-tracking firm RealtyTrac. Nationwide, 1 in every 418 households was served some form of foreclosure notice but -- as always -- foreclosures are more common in some areas than others. In February 2010, 4 states accounted for more than half of the country's foreclosure-related activity
Foreclosure-related filings topped 300,000 last month, bringing the 12-month total to somewhere near 1.4 million nationwide. Some states, of course, are more foreclosure-heavy than others. According to RealtyTrac, the state of Nevada keeps its title as Foreclosure Central with a foreclosure rate 4 times the national average. Arizona, California and Florida aren't far behind.
Clearly, some states are more foreclosure-heavy than others. And always have been.
As reported by RealtyTrac.com, the Buckeye State is the only state among the Top 10 in 2009 Foreclosure Activity to post fewer filings versus 2008. It's a nice boost for a state that's been beaten down by high unemployment and the New York Jets. Foreclosures are slowing statewide, helping both home values and homeowner morale.
Foreclosure activity in most the nation's largest states dropped last month, buoying the national average lower despite 30 states faring worse than the national average. Total foreclosure activity nationwide slipped for the 4th straight month. Versus October, activity is down 8 percent. A reduction in foreclosure activity is big news for housing, but the big-ger news is buried in the stats.
