Posts discussing Foreclosures

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30Jan2012
Author
Rob Chrisman
Filed Under
Mortgage News
“Responsible Homeowners” Can Save $3,000 Per Year Via HARP-Like Program Thumbnail

“Responsible Homeowners” Can Save $3,000 Per Year Via HARP-Like Program

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".

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29Jan2012
Author
Rob Chrisman
Filed Under
Mortgage News
Foreclosure Processing Timelines Slowing U.S. Home Sales Thumbnail

Foreclosure Processing Timelines Slowing U.S. Home Sales

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.

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10Oct2011
Author
Dan Green
Filed Under
Credit Scoring For Mortgages
Chart : How Does A Foreclosure, Missed Payment, And Maxed-Out Credit Card Change Your FICO Score Thumbnail

Chart : How Does A Foreclosure, Missed Payment, And Maxed-Out Credit Card Change Your FICO Score

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.

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15Sep2011
Author
Dan Green
Filed Under
Foreclosures
Default Notices Surge In August; Foreclosures Poised To Rise? Thumbnail

Default Notices Surge In August; Foreclosures Poised To Rise?

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.

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14Jul2011
Author
Dan Green
Filed Under
Foreclosures
June Foreclosure Stats : Distressed Homes Sell At 20% Discount Thumbnail

June Foreclosure Stats : Distressed Homes Sell At 20% Discount

According to foreclosure-tracking firm RealtyTrac, the number of foreclosure filings dropped 29 percent nationwide on an annual basis in June.

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16Jun2011
Author
Dan Green
Filed Under
Real Estate Sales
As Foreclosure Volume Shrinks, Homes Sell At 20% Discounts Thumbnail

As Foreclosure Volume Shrinks, Homes Sell At 20% Discounts

Foreclosure counts have dropped over 16 consecutive months, dating back to January 2010. And they sell at 20% discounts to "regular homes".

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18Apr2011
Author
Dan Green
Filed Under
Foreclosures
Are The “Good Deals” In Foreclosures A Thing Of The Past? Thumbnail

Are The “Good Deals” In Foreclosures A Thing Of The Past?

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.

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24Jan2011
Author
Dan Green
Filed Under
Foreclosures
Foreclosure Distribution In The United States (2005-2010) Thumbnail

Foreclosure Distribution In The United States (2005-2010)

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.

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23Dec2010
Author
Dan Green
Filed Under
Foreclosures
Foreclosures Selling At 15% Discount But Inventory Is Thinning Out Thumbnail

Foreclosures Selling At 15% Discount But Inventory Is Thinning Out

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?

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15Dec2010
Author
Dan Green
Filed Under
Mortgage Video
TV Interview : Housing Growth Outlook, The End Of The Refi Boom, Mortgage Rates Thumbnail

TV Interview : Housing Growth Outlook, The End Of The Refi Boom, Mortgage Rates

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.

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19Oct2010
Author
Dan Green
Filed Under
Foreclosures
September 2010 : Foreclosures Sold At 26 Percent Discount Thumbnail

September 2010 : Foreclosures Sold At 26 Percent Discount

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.

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20Sep2010
Author
Dan Green
Filed Under
Foreclosures
How Banks Are Making It Harder To Get A Foreclosure “Steal” Thumbnail

How Banks Are Making It Harder To Get A Foreclosure “Steal”

NAR says home buyers get a "distressed home discount" of roughly 15 percent. Banks are working to reduce that number.

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16Jul2010
Author
Dan Green
Filed Under
Foreclosures
The 80/20 Rule No Longer Applies To REO and Foreclosures Thumbnail

The 80/20 Rule No Longer Applies To REO and Foreclosures

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.

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11Jun2010
Author
Dan Green
Filed Under
Foreclosures
Finding Foreclosure Deals : Bank Repossessions Reach An All-Time High Thumbnail

Finding Foreclosure Deals : Bank Repossessions Reach An All-Time High

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.

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19Apr2010
Author
Dan Green
Filed Under
Foreclosures
Chart : Foreclosures Per Household By State (March 2010) Thumbnail

Chart : Foreclosures Per Household By State (March 2010)

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.

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15Mar2010
Author
Dan Green
Filed Under
Foreclosures
February 2010 : 4 States Account For More Than 50% Of Foreclosure Activity Thumbnail

February 2010 : 4 States Account For More Than 50% Of Foreclosure Activity

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

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12Feb2010
Author
Dan Green
Filed Under
Foreclosures
Buying REO? Keep An Eye On Foreclosures Per Capita. Thumbnail

Buying REO? Keep An Eye On Foreclosures Per Capita.

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.

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19Jan2010
Author
Dan Green
Filed Under
Foreclosures
Foreclosure Distribution In The United States (2005-2009) Thumbnail

Foreclosure Distribution In The United States (2005-2009)

Clearly, some states are more foreclosure-heavy than others. And always have been.

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15Jan2010
Author
Dan Green
Filed Under
Foreclosures
Foreclosure Activity Increased Across Most States In 2009. Ohio Wasn’t One Of Them. Thumbnail

Foreclosure Activity Increased Across Most States In 2009. Ohio Wasn’t One Of Them.

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.

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11Dec2009
Author
Dan Green
Filed Under
Foreclosures
Finding Foreclosures To Buy : Do Your Own Homework Before Calling Your Real Estate Agent Thumbnail

Finding Foreclosures To Buy : Do Your Own Homework Before Calling Your Real Estate Agent

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.

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