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December 1, 2011
Foreclosure Crisis Isn’t Even Halfway Over, Analysis Finds
Read More... November 11, 2011
November 4, 2011
October 26, 2011
4.5 million foreclosed borrowers may be eligible for reviews
Read More... October 18, 2011
October 13, 2011
Foreclosure notices rise in 3Q, but down from a year ago
Read More... October 13, 2011
October 6, 2011
September 28, 2011
Housing Takes Baby Steps Towards Better Balance
Read More... September 21, 2011
Six Questions on Fannie’s ‘Mortgage Servicing’ Deal
Read More... September 20, 2011
Foreclosure Complaint? Stand By for New Toll-Free Number
Read More... September 15, 2011
September 15, 2011
September 14, 2011
The government should try to enable more people whose property values have plummeted to refinance. These borrowers are caught in a trap not of their own making.
Read More... September 7, 2011
What's the bright side to a 200 point drop in the Dow? Yet another rush to Treasuries that pushes the 10-year yield below two percent; that, in turn, means even lower mortgage rates, right?
Read More... August 31, 2011
JACKSONVILLE, Fla. – August 30, 2011 - The July Mortgage Monitor report released by Lender Processing Services, Inc. (NYSE: LPS) shows that foreclosure timelines continue their steady upward trend, as a payment has not been made on the average loan in foreclosure in a record 599 days. Of the nearly 1.9 million loans that are 90 or more days delinquent but not yet in foreclosure, 42 percent have not made a payment in more than a year with an average delinquency of 397 days, also a new record. At the same time, first-time foreclosure starts in June were near three-year lows, and first-time delinquencies accounted for only 25 percent of new delinquent inventory.
Read More... August 29, 2011
Short sales are increasing as a percentage of home sales in many states, helping some neighborhoods and homeowners avoid the more devastating impacts of foreclosures.
Read More... August 25, 2011
U.S. homes nearing foreclosure accounted for 12 percent of total sales in the second quarter as banks agreed to more transactions at prices below the outstanding mortgage balance, RealtyTrac Inc. said.
Read More... August 18, 2011
MCLEAN, Va., Aug. 18, 2011 /PRNewswire/ -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing mortgage rates, fixed and adjustable, reaching all-time record lows providing further incentive for those homeowners looking to refinance. The 30-year fixed averaged 4.15 percent, breaking the previous record low of 4.17 percent set November 11, 2010.
Read More... August 12, 2011
With stocks dramatically shifting on a whim and debt concerns in the U.S. and Europe heightening investor fears, one thing antsy investors don't have to worry about is mortgage rates.
Read More... August 10, 2011
August 8, 2011
Just as we saw a double dip in home prices, we may be seeing another surge in foreclosures
Read More... August 4, 2011
Aug. 2 (Bloomberg) -- As Congress and the Obama Administration talk about ways to fix the U.S. mortgage market, federal regulators are moving toward a set of rules that may reshape housing finance even before the debate begins.
Read More... July 28, 2011
NEW YORK (CNNMoney) -- Foreclosures declined in more than 84% of U.S. metro areas during the first half of the year, according to the latest report from RealtyTrac, an online marketer of foreclosed properties. But that doesn't mean these markets are staging a turnaround.
Read More... July 25, 2011
Short sales are among the most arduous real estate transactions, often taking six months or more to close -- if they get done at all.
Read More... July 21, 2011
First-time homebuyers use real estate agents to identify long-term value in properties, negotiate prices and ensure deals go through. Many buyers, including first-timers, use the Internet for the preliminary work of finding homes for sale and collecting information on neighborhoods and recent sales.
Read More... July 20, 2011
Existing-home sales eased in June as contract cancellations spiked unexpectedly, although prices were up slightly, according to the National Association of Realtors®.
Read More... July 8, 2011
More than 2 million homeowners hit by a foreclosure in 2009 or 2010 can demand reviews of their cases and they'll receive letters explaining their rights, banking regulators said Thursday.
Read More... June 30, 2011
The effort, called the Emergency Homeowners Loan Program, is the latest in the federal government's efforts to slow down the flood of foreclosures a necessary step to a meaningful recovery in the housing market, says a Department of Housing and Urban Development official. For people who have lost their jobs, the $1 billion program offers loans of up to $50,000 that don't actually need to be repaid, if applicants meet certain requirements.
Read More... June 23, 2011
The "shadow inventory" of U.S. homes likely to come up for sale soon declined in early 2011 and a measure of house prices unexpectedly rose in April, providing rare cause for optimism in the battered housing market.
Read More... June 22, 2011
About 1.7 million U.S. homes were in the foreclosure process and expected to be put on the market as of April, down 18 percent from the peak, as fewer loans entered delinquency and more distressed homes sold, CoreLogic Inc. (CLGX) said.
Read More... June 16, 2011
Not even the blistering summer heat has thawed the housing market, which has been kept frozen for two years by underwater homeowners and tight credit.
Read More... June 15, 2011
Wholesale food prices fell last month by the most in nearly a year, and gas prices keep dropping after peaking in May. A separate survey suggests CEOs are feeling more optimistic and will hire more in the second half of this year.
Read More... June 15, 2011
As big banks and Fannie Mae and Freddie Mac [FMCC 0.37 -0.003 (-0.8%) ] push foreclosures through the pipeline, the inventory of REO (bank-owned) properties is rising.
Read More... June 10, 2011
May sales show surprising strength
Annualized rate of home sales increases from 4.730 million in April 2011to 4.860 million in May 2011. Average prices of homes sold increased 1.5 percent from April 2011 to May 2011.
Read More... June 10, 2011
The housing market in many US cities is performing better than recently released national data would suggest, leading some analysts and real estate brokers to express cautious optimism about the prospects for a recovery.
Read More... June 3, 2011
As the U.S.’s foreclosure crisis plays out, homeowners are slowly catching up on paying their mortgages.
Read more:
Read More... May 26, 2011
Foreclosure Homes Account for 28 Percent of Q1 2011 Sales
Read More... May 26, 2011
Economic Recovery Hindered By Lack-Luster Real Estate Market
Read More... May 26, 2011
Survey: Next 2 years is prime time for real estate investors
Read More... May 19, 2011
Anticipates a Modest Increase in Its Company-Wide Year-Over-Year Average Sales Price for April and May
Read More... May 11, 2011
Home prices continued to plummet during the first three months of 2011, falling 4.6% from a year earlier.
Read More... May 8, 2011
MCLEAN, Va., May 5, 2011 /PRNewswire/ -- Freddie Mac (OTC: FMCC) released the results of its first quarter refinance analysis showing homeowners who refinance continue to strengthen their fiscal house.
Read More... May 3, 2011
It's all about sales this week, with the most recent reports coming out on existing-home, new home, and pending home sales
Read More... May 2, 2011
The economy is starting to improve but the housing market has yet to show any significant signs of recovery, which has homeowners nervous.
Read More... May 1, 2011
More Americans signed contracts to buy homes in March, but sales were uneven across the country and were not strong enough to signal a rebound in housing.
Read More... April 26, 2011
A story in today’s Journal shows that the housing market is so broken that home prices are falling amid more competition for homes.
Read More... April 26, 2011
Thanks to all the streaming feeds of constant news I'm subjected to, I just clicked on a CNBC story titled, Four Years Later, Housing Market Shows Signs of Life." I was curious, seeing as I write about housing for CNBC, and I didn't write that. It's a Reuters piece, and I don't buy it.
Read More... April 18, 2011
Foreclosures are still big news in real estate across the country. Most homeowners are looking forward to a day when foreclosures make up a much smaller share of the market.
Read More... April 12, 2011
Spring typically is the year's busiest season for residential real estate, but this year some normally upbeat sales agents are showing signs of nervousness as they confront sluggish growth and tough lending standards.
Read More... April 12, 2011
Despite an extended slump in real-estate prices, most Americans still believe homes are the best investment, according to a survey released today by the Pew Research Center.
Read More... April 9, 2011
Shopping for a new home on Long Island after the birth of their daughter, Chris and Diane Moore fell in love with a 1920s Mediterranean-style home with a storied history.
Read More... April 6, 2011
Forget stocks. Don't bet on gold. After four years of plunging home prices, the most attractive asset class in America is housing.
Read More... March 21, 2011
The number of home foreclosures for sale and filings related to foreclosures that were issued in the whole U.S. in February 2011 was the lowest total in three years.
Read More... March 21, 2011
For sale by owner, foreclosure, short sale, bank-owned home -- this laundry list of terms can be confusing when you are in the market to buy a home.
Read More... March 21, 2011
Buying a home with equity in a fast way is really a very crucial job. It is even harder if you’re going to buy a house in an area that is new for you.
Read More... March 9, 2011
Without a house to sell , first-time home buyers have had a field day in the depressed housing market. Until recently, anyway. A series of new rules, regulations and policies have changed the landscape, making buying that new home harder and more expensive.
Read More... March 9, 2011
LOS ANGELES - The spring home-selling season is underway, and homebuyers have more leverage this year to get price discounts and other perks on new homes than in years past.
Read More... March 7, 2011
Reporting from Washington and Orange County — Republicans and Democrats on Capitol Hill agree that the Obama administration's foreclosure prevention efforts have been ineffective, but the parties are at odds on whether Congress should kill the programs.
Read More... March 7, 2011
Yesterday I noted that the combined REO (Real Estate Owned) inventory for Fannie, Freddie and the FHA increased 71% compared to Q4 2009 (year-over-year comparison). As I noted, this is just a portion of the total REO inventory. Private label securities and banks and thrifts also hold a substantial number of REOs.
Read More... February 24, 2011
IRVINE, Calif. – Feb. 24, 2011 — RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its Year-End and Q4 2010 U.S. Foreclosure Sales Report™, which shows that foreclosure homes accounted for nearly 26 percent of all U.S. residential sales during the year, down from 29 percent of all sales in 2009 but up from 23 percent of all sales in 2008.
Read More... February 22, 2011
The average U.S. borrower in the throes of foreclosure hasn't made a mortgage payment in 17 months, up from nearly 11 months two years ago — and the time frame may get even longer.
Read More... February 22, 2011
Foreclosure filings are down nearly 20 percent this January compared to one year ago, but foreclosure activity could jump soon as banks are bogged down by improper foreclosure filing accusations.
Read More... February 22, 2011
WASHINGTON -- A top federal regulator told bankers on Friday that a major investigation into Wall Street's foreclosure system has revealed a "broken" process that takes advantage of homeowners, further intensifying the debate over regulatory remedies to potential foreclosure fraud.
Read More... February 22, 2011
A record share of U.S. mortgages were in the foreclosure process at the end of 2010, matching the all-time high, as lenders and servicers delayed home seizures to investigate charges of improper documentation.
Read More... February 17, 2011
RISMEDIA, February 17, 2011—In a landmark study examining the home buying and selling preferences of consumers in the Mid-Atlantic region, 95% reported that working with a real estate professional is just as important, if not more important, than it was just a few years ago.
Read More... February 14, 2011
The number of properties in the U.S. that received foreclosure filings grew 1% in January from December, but was down 17% from a year earlier, according to market researcher RealtyTrac.
Read More... February 10, 2011
Georgia ranked seventh in the nation for foreclosures in January, according to RealtyTrac.
Read More... February 8, 2011
National quarter-over-quarter home prices slid 1.6 percent in January but prices turned positive during the month, the first uptick since mid-August, according to Clear Capital's Home Data Index.
Read More... February 8, 2011
Most consumers expect foreclosure inventories to rise in 2011. This is according to a recent survey conducted by the Home Buying Institute.
Read More... February 7, 2011
You can talk all you want of renewed interest in housing, slowly increasing sales and supposed stabilization in prices, but the elephant in the room is slowly growing, and banks, Fannie, Freddie and the government know it. I'm talking about foreclosures.
Read More... February 4, 2011
The near-zero inflation era may be ending. Prices are rising slightly, and economists expect a steady climb as the recovery gains steam.
Read More... February 2, 2011
Las Vegas always wins the title for worst foreclosure rate in the country. But these 10 unexpected cities have the fastest-growing rates out of the 100 worst-hit places.
Read More... January 28, 2011
New signs point toward improvement in the U.S. real estate market. Sales of previously owned U.S. homes were up 12% in December. This was a strong end to 2010 and leads the National Association of Realtors to be more optimistic about a stronger recovery. See the following article from Property Wire for more on this.
Read More... January 28, 2011
REO properties have now become the first choice of any smart home buyer. These properties are equally liked by the seasoned investors and the real estate beginners. These are those properties that have been acquired by the lender or the bank if there is no sale in the foreclosure auction. A property moves in the foreclosure process if the owner has taken loan from the lender or the bank to purchase it but is not able to make payments to the lender or the bank.
Read More... January 28, 2011
It isn’t the sort of list you’d want to be on - but having more foreclosures than anywhere else in the country, is a badge of something.
Read More... January 28, 2011
Foreclosure activity showed signs of easing in some of the hardest-hit markets last year, even though filings rose on a nationwide basis as the country dealt with high unemployment rates, according to a report released by RealtyTrac on Thursday.
Read More... January 28, 2011
NEW YORK (CNNMoney) -- Housing markets will remain flat, flat, flat in 2011, according to forecasts from the Mortgage Bankers Association.
Read More... January 28, 2011
Despite being four years after the housing bust, the foreclosure plague has continued to spread. Here's how the country's 10 biggest cities are faring.
Read More... January 27, 2011
IRVINE, Calif. – Jan. 27, 2011 – RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its 2010 Year-End Metropolitan Foreclosure Market Report, which shows that while foreclosure activity increased from 2009 in 149 of the nation’s 206 metropolitan areas with a population of 200,000 or more, the metro areas with the 10 highest foreclosure rates all posted decreasing foreclosure activity from 2009 and six of the top 10 also posted decreasing foreclosure activity from 2008.
Read More... January 25, 2011
Metro Atlanta’s foreclosures were on the rise again in November, but delinquent mortgages were down.
Read More... January 24, 2011
Perhaps the most prominently pronounced facet of real estate investment in the coming year will surround REO properties—specifically bank-owned, foreclosed homes.
Read More... January 24, 2011
WASHINGTON -- Sen. Jeff Merkley (D-Ore.) is urging President Barack Obama to pledge a new round of foreclosure relief during his State of the Union address next week. In a letter to the president obtained by The Huffington Post, Merkley said the administration's current anti-foreclosure programs have proven woefully inadequate, and pushed for a more thorough program to keep families in their homes.
Read More... January 20, 2011
The housing industry is poised to gain strength this year after coming off one of its worst years ever in 2010, economic forecasts and new data released Wednesday show.
Read More... January 19, 2011
The housing market still looks pretty bleak: There were a record one million foreclosures last year, home prices are still falling in many regions and the number of "underwater" properties is at a record high.
Read More... January 18, 2011
Foreclosure moratoriums in third-quarter 2010 slowed, but even so, 2010 was a record year for foreclosure filings.
Read More... January 14, 2011
It's coming, no question.
Today's report from RealtyTrac serves as a warning to big banks, Fannie, Freddie and local communities; The foreclosure glut is coming, and they'd better be ready to get rid of that glut in a big way.
Read More... January 13, 2011
IRVINE, Calif. – Jan. 13, 2011 – RealtyTrac® (http://www.realtytrac.com/gateway_co.asp?accnt=137300), the leading online marketplace for foreclosure properties, today released its Year-End 2010 U.S. Foreclosure Market Report™, which shows a total of 3,825,637 foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on a record 2,871,891 U.S. properties in 2010, an increase of nearly 2 percent from 2009 and an increase of 23 percent from 2008.
Read More... December 30, 2010
During this first holiday season on the road leading out of the recession, American consumers are taking different approaches in their decision-making.
Read More... December 29, 2010
2010 has been a year of real estate contrasts. While many consumers have taken advantage of historic buying opportunities and the market has seen a gradual stabilization of sales and prices, other challenges facing the nation have led some to question the value of home ownership for families, communities, and the country.
Read More... December 29, 2010
JACKSONVILLE, Fla., Dec. 27, 2010 /PRNewswire/ -- The November Mortgage Monitor report released by Lender Processing Services, Inc. (NYSE: LPS) shows that the volume of loans moving to REO continued to drop as moratoria further delayed foreclosure sales.
Read More... December 28, 2010
Until recently, a man's house was less his castle, more his golden goose: A path to wealth as homes grew in value or were sold, and sold again, for profits upon profits.
Read More... December 16, 2010
With mortgage rates at their highest level in six months, the number of mortgages rising though still near record lows -- Freddie Mac reported that the rate for a 30-year fixed rate mortgage averaged 4.61 percent last week -- this may be an opportune time for buyers.
Read More... December 16, 2010
WASHINGTON, D.C. (December 15, 2010) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending December 10, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 2.7 percent compared with the previous week.
Read More... December 10, 2010
NEW YORK (CNNMoney.com) -- Bank of America said Friday it was ending its hiatus on foreclosure sales, and promised to get its act together after a series of sloppy home seizures prompted the bank to back off and re-examine its process.
Read More... December 9, 2010
The news on the housing front continues to be bleak. U.S. home prices declined 2% in the third quarter, according to the latest S&P/Case-Shiller Home Price Index data released last week.
Read More... December 6, 2010
NEW YORK (CNNMoney.com) -- Several of the big mortgage players are playing Santa Claus again this year, saying they will not evict borrowers in default during the two weeks surrounding Christmas.
Read More... December 3, 2010
The foreclosure mess might not be scaring off that many prospective home buyers after all. Pending home sales jumped in October. The National Association of Realtors Pending Home Sales Index increased by an impressive 10.4% during the month. Even with this rise, however, demand remains relatively weak.
Read More... November 29, 2010
WASHINGTON, DC--(Marketwire - November 29, 2010) - Commercial real estate markets are flattening out, with modestly improving fundamentals expected in 2011, according to the National Association of Realtors®.
Read More... November 23, 2010
CAPE CORAL, Fla. (AP) — Across the nation, troubled homeowners have cheered the news that some banks are slowing the foreclosure process to review questionable documents. Then there are places like Lee County, Fla., where not everyone is applauding.
Read More... November 22, 2010
Consumer spending probably picked up in October, and factories took more machinery orders, showing the U.S. recovery strengthened entering the final quarter of 2010, economists said before reports this week.
Read More... November 17, 2010
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential
construction statistics for October 2010:
Read More... November 15, 2010
Home ownership has long been a symbol of the American Dream and for a while there, we supersized it. But since the recession, we've been downsizing it.
Read More... November 12, 2010
Mortgage rates are hitting another record low just as home prices are firming in more parts of the country, two trends that could help boost the economy.
Read More... November 12, 2010
RISMEDIA, November 12, 2010—(MCT)—Union County, N.C., homeowner Barry Lancett signed two agreements with a national lender this year to modify the terms of his mortgage but still received a disturbing piece of paperwork: a foreclosure notice. “A deputy comes to your door and delivers it in front of the community,” said Lancett, who later avoided foreclosure but is still dealing with lingering issues. “It was humiliating, to say the least.”
Read More... November 8, 2010
U.S. pending home sales slipped for the first time in three months in September as foreclosure moratoriums slowed sales.
Read More... November 8, 2010
For some Florida residents, the price of getting out of foreclosure will include taking on a second mortgage — payable this time to their lawyers.
Read More... November 5, 2010
NEW YORK (CNNMoney.com) -- The state attorneys general have been pressing the banks hard over the past month, questioning them over foreclosures and falsified legal paperwork. But Tuesday's election could impact that effort.
Read More... November 2, 2010
WASHINGTON — A mixed picture of the economy emerged one day before key midterm elections that have focused on the nation's financial health.
Spending by Americans slowed in September, and their incomes fell for the first time in more than a year. At the same time, manufacturing activity grew by the most in five months, and the weak construction industry showed a little life.
Read More... November 2, 2010
MONEY Magazine) -- Just when it looked as if mortgage rates couldn't fall any further, they did.
Rates on 30-year fixed-rate mortgages (excluding jumbos) hit an average of 4.3% in September, the lowest level since 1953, according to Freddie Mac, and are still hovering below 4.5%.
Read More... October 25, 2010
By Dawn Wotapka
Dawn Wotapka
Julio Burmudez and Magaly Cervantes at the Dade County courthouse. Magaly Cervantes and Julio Bermudez started this week in tears. But they ended the week in celebration.
Read More... October 25, 2010
WASHINGTON (AP) — Federal banking regulators are examining whether mortgage companies cut corners on their own procedures when they moved to foreclose on people's homes, Federal Reserve Chairman Ben Bernanke said Monday.
Read More... October 18, 2010
It seemed too good to be true: You bought a house in foreclosure at a fraction of the former price. Maybe you even knocked out a wall or two and remodeled with all the money you saved
Read More... October 10, 2010
WASHINGTON — Bank of America on Friday halted foreclosures on homes across the country so it could review paperwork in tens of thousands of cases for flaws, expanding a crisis at a perilous time for the housing market.
Read More... October 7, 2010
The dimensions of the foreclosure crisis keep expanding. Lenders and loan servicers including JPMorgan Chase (JPM) and Ally Financial are facing an explosion in homeowner lawsuits and state attorney general investigations of claims of falsified mortgage documents.
Read More... October 6, 2010
RISMEDIA, October 6, 2010—(CBS MoneyWatch)—On Friday, Bank of America announced that it would suspend foreclosures in 23 states while it amended filed paperwork.
Read More... October 4, 2010
U.S. courts are clogged with a record number of foreclosures. Next, they may be jammed with suits contesting property rights as procedural mistakes in those cases cloud titles establishing ownership.
Read More... September 30, 2010
Nearly one in every four U.S. homes sold in the second quarter was a deeply discounted foreclosed house, putting the market on pace to work through distressed properties in about three years, RealtyTrac said.
Read More... September 28, 2010
Imagine financing a home purchase with a no-interest mortgage. You’d probably never want to move again
Read More... September 28, 2010
Fraud follows misfortune. After 9/11, hucksters submitted phony death claims to insurance companies in hopes of benefiting from the tragedy. After Hurricane Katrina, scammers set up fake "charities" that siphoned relief dollars away from legitimate storm victims. The housing crisis is no different: swindlers are exploiting desperate borrowers with phony guarantees to save their homes from foreclosure.
Read More... September 28, 2010
Paperwork mistakes that led one of the nation's largest mortgage servicers to halt foreclosure evictions in 23 states last week have happened elsewhere and affect tens of thousands of foreclosures, say lawyers for homeowners.
Read More... September 13, 2010
WASHINGTON (MarketWatch) -- The U.S. Housing and Urban Development Department on Wednesday allocated $1 billion in funding to U.S. states to help stabilize neighborhoods faced with many foreclosures.
Read More... September 13, 2010
RISMEDIA, September 13, 2010—U.S. Housing and Urban Development Secretary Shaun Donovan awarded an additional $1 billion in funding to all states along with a number of counties and local communities struggling to reverse the effects of the foreclosure crisis.
Read More... September 9, 2010
Home foreclosures, the epidemic spawned by the crash of the real estate market, are once again a potential election-year bugaboo.
Read More... September 9, 2010
WASHINGTON — Major banks are agreeing to give local governments and nonprofit groups the ability to buy foreclosed homes before they are sold to private investors.
Read More... September 9, 2010
Federal and state policy makers should take a broader approach to the foreclosure crisis, not only adopting measures to prevent foreclosures and stabilize housing, but also providing aid to help the hardest-hit communities address underlying social and economic issues, said Eric Rosengren, the president of the Federal Reserve Bank of Boston.
Read More... September 9, 2010
Homeowners who had mortgages modified recently are faring better than those who did so earlier in the housing crisis, according to a report released Tuesday, possibly debunking predictions of a huge wave of defaults to come.
Read More... September 9, 2010
If you have never heard of the term ‘REO’, and yet have an interest in investing in real estate – historically one of the most profitable investment sectors on the market – this article is for you.
Read More... August 30, 2010
In real estate it has always been about “location, location, location”, and then along comes REO. Now it’s about “price, price, price”. We all know that “price” sells; it always has but let’s not get too carried away. There is a “great price” and then there is a “ridiculous offer”.
Read More... August 30, 2010
Foreclosures and late payments on home mortgages dropped slightly in the second quarter of this year, but sustained high unemployment and a stalled economic recovery could make the improvement short-lived.
Read More... August 30, 2010
According to Everything Real Estate, bank owned homes can be as much as 20 percent less than the market value of similar properties. Despite the potential discount, being an informed consumer is the best way to purchase any parcel of bank owned real estate.
Read More... August 23, 2010
NEW YORK (CNNMoney.com) -- The president's signature foreclosure rescue plan is losing its punch, according to a federal report released Friday.
Read More... August 23, 2010
BOULDER, Colo. (MarketWatch) -- The recession is "officially" over according to GDP figures. Stocks are up 50% from the March 2009 bottom. Gold and silver are up dramatically, too. So what's the only remaining asset class that's still cheap?
Real estate.
Read More... August 16, 2010
The combined REO (Real Estate Owned) inventory for Fannie, Freddie and the FHA increased by 13% in Q2 2010 from Q1 2010. The REO inventory (lender Real Estate Owned) increased 74% compared to Q2 2009 (year-over-year comparison).
Read More... August 9, 2010
Bank owned properties consist of foreclosure real estate that did not sell through public auction and has been returned to the lender. This type of real estate goes by a variety of names including real estate owned, reo homes, and bank foreclosures.
Once real estate becomes bank owned it is placed for sale through the lender's loss mitigation department or local independent realtors. Most banks and real estate agents provide foreclosure lists or provide property listings on their company websites.
Read More... August 4, 2010
After welcome signs of growth in housing earlier this year, home sales — and prices — are likely to wilt again in the summer heat, a victim of rising foreclosures and weak demand in many parts of the U.S.
Read More... August 4, 2010
Jennifer and Andrew Greenberg didn't fall in love at first sight with the 1950s ranch house they just bought in Portland, Ore. But they did feel that way about the neighborhood. They saw people out walking and noticed how close the house was to coffee shops and wooded paths. So they chose the home that needed more work over a comparably priced but more upscale option in another area. "When it came down to it, we weren't willing to compromise on walkability," says Ms. Greenberg, a 37-year-old event planner.
Read More... August 4, 2010
If you’re looking to buy a home in the second half of 2010, there’s reason to be encouraged, say some metro Atlanta real estate professionals. That’s despite the reality that recovery in the hard-hit housing sector has been more steady than swift.
Read More... August 2, 2010
Buying bank owned real estate has become a popular choice amongst first time home buyers, real estate investors, and individuals seeking reduced priced properties. Bank owned foreclosures are sold directly through bank loss mitigation or their assigned independent real estate agents. Many properties are priced at 20- to 40-percent below market value.
Read More... August 2, 2010
Bank repossessions – the actual foreclosure on a home and conversion to an REO (Real Estate Owned) property – hit a record high in May 2010 for the second month in a row, according to foreclosure experts RealtyTrac. Lenders repossessed a total of 93,777 homes, a 1 percent jump from April and a 44 percent rise from May of last year.
Read More... July 26, 2010
REO homes are Real Estate Owned Homes or a property owned by banks because the original owner defaulted on mortgage payments. REO homes are a great opportunity as they sell at deep discounts.
Read More... July 20, 2010
Most homebuyers believe that bank REO foreclosures are the safest forms of foreclosed properties. This is, in some ways, true. However, getting an offer accepted might not be as easy since a lot of investors are interested in these properties and a regular home buyer can find himself competing against a handful of better offers. To improve one's chances of getting accepted, the offer price should be just about right.
Read More... July 20, 2010
Pace of New Repossessions Slows, But this Year Likely to Eclipse 2009 for Lost Homes as Banks Tackle Backlogs
Read More... July 20, 2010
The foreclosure picture in metro Atlanta appears to be improving.
Foreclosure notices declined 25 percent in July when compared with June and 5.6 percent from a year ago, according to figures released Monday by Equity Depot.
Read More... July 1, 2010
NEW YORK (CNNMoney.com) -- Foreclosures accounted for a third of all sales -- and sold at a nearly 30% discount -- during the first three months of 2010.
Read More... June 25, 2010
For the first time in two years, fewer homeowners are missing mortgage payments, Treasury Department regulators reported Wednesday, but foreclosures are surging as many loan-modification efforts fail.
Read More... June 25, 2010
NEW YORK, NY--(Marketwire - June 24, 2010) - As the government-sponsored enterprises (GSEs) and Federal agencies involved in housing finance sell their collective inventory of over 200,000 repossessed homes, they will generate significant pressure on prices, according to the April 2010 RPX Monthly Housing Market Report released today by Radar Logic Incorporated. And with their large position in the delinquent mortgage pipeline, their influence over home prices could last for years.
Read More... June 25, 2010
The home-foreclosure crisis will be with us for years, but here’s a small sign of progress: The number of home loans in the foreclosure process may have peaked, according to Barclays Capital in New York.
Read More... June 18, 2010
The national foreclosure rate continued to fall in May from the previous month, according to a new report released Thursday.
Read More... June 18, 2010
Banks took foreclosure actions against 322,920 properties in May. That’s down 3 percent from the month before, including default notices, bank seizures, and foreclosure auctions.
Read More... June 11, 2010
Real estate owned or REO properties are houses foreclosed by banks because of the failure of their homeowners to pay their mortgage loans. They are properties that were not sold at auctions and returned to the banks. Buying REO properties has many advantages, especially to new investors.
Read More... June 7, 2010
Buying foreclosed homes in fixer-upper condition gives you a larger profit margin.
Read More... June 7, 2010
Many investors know the value of a Bulk REO Portfolio while others may need or desire direct access to Bulk REO Portfolio Acquisitions for investment. Buying foreclosure properties presents a huge investment opportunity for agents, home buyers and real estate investors seeking pre-foreclosures, foreclosure auctions and bank-owned properties.
Read More... June 7, 2010
Before investing in a foreclosure home it is important to consider the advantages and disadvantages of this type of real estate purchase.
Read More... June 1, 2010
More and more people are looking into bulk REO investments as a way to alleviate their financial conditions. If you are one of those people who think that REOs are the best way to go, here is a guide to show you the essential guiding principles that you need to be acquainted with in order to start successfully with bulk REO investing.
Read More... June 1, 2010
NEW YORK (CNNMoney.com) -- Going, going, gone: An increasing number of homes are now being sold at auction -- rather than through real estate brokers -- in an effort to dump properties more quickly and efficiently.
Read More... June 1, 2010
It’s a bit like guessing how many pennies are in a gallon jug at the state fair, but housing analysts keep trying to count how many foreclosed homes banks and mortgage investors own.
Read More... May 21, 2010
With the number of bank-owned REO properties expected to rise in the summer of 2010, here are 7 Tips that can help you snag a bank-owned property.
Read More... May 21, 2010
A recent study by Barclays Capital says that U.S. lenders are holding fewer foreclosed homes than previously assessed by the research firm.
Read More... May 14, 2010
More people lost their homes to foreclosure in April as banks worked through a backlog of troubled borrowers, according to data released Thursday.
Read More... May 14, 2010
The term foreclosure has become all too common in everyday vernacular. Buyers hunt for foreclosed properties, while sellers attempt to steer clear of them.
We all have seen one that is for sale in our own community. These are known as REO (Real Estate Owned) properties, which are bank owned, and are being sold on the market—usually at a discount price—after failing to sell at a foreclosure auction.
Read More... May 14, 2010
There are more foreclosures in the United States right now than we have ever experienced before. But smart real estate investors are turning these ‘lemons’ into ‘lemonade’ in an incredibly profitable new way.
Read More... May 14, 2010
Bank owned foreclosures refer to those that have reverted to the bank's ownership after a public sale. These properties can range from single units to multi-family units, condominiums, apartments, townhouses, duplexes and other types of structures.
Read More... April 19, 2010
LOS ANGELES — A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report.
Read More... April 14, 2010
WASHINGTON, April 14 (Reuters) - An Obama administration program to help struggling homeowners modify their mortgages is not moving fast enough to keep up with the growing number of foreclosures, a U.S. congressional watchdog said on Wednesday.
Read More... April 9, 2010
Question: With all the talk about negative equity, the next logical question is: "How long will this last?"
Read More... April 9, 2010
The rich and famous now have something in common with hundreds of thousands of middle and lower-class Americans: The bank is about to take their homes.
Read More... April 1, 2010
ORLANDO, Fla., March 31 /PRNewswire/ -- The countdown has begun: Only a month remains before the federal homebuyer tax credit expires, so now is the time for house hunters to find the home they've always wanted in Florida.
Read More... April 1, 2010
RISMEDIA, April 1, 2010—The real estate brokerage industry is in the process of coming out of a significant storm that has wreaked havoc on a large percentage of firms.
Read More... March 29, 2010
I'm always a sucker for the next good idea, and the single-family residential market could use a good idea. With more than 3.6 million homes on the market as of third-quarter 2009, perhaps someone could invent a way to sell more of those homes and stabilize the supply-demand equation.
Read More... March 29, 2010
Atlanta’s housing market has likely hit bottom, but sagging consumer confidence will make recovery slow in 2010.
Read More... March 29, 2010
Never have we seen such a strong buyers’ market on the south side of Atlanta with investors from across the nation snatching up the bargain-priced homes in Clayton and Henry counties.
Read More... March 29, 2010
The requests for smaller homes have become more numerous and frequent.
While a majority of homebuyers aged 55 and over are seeking homes approximately the same size as their present home, builders catering to the age group can no longer afford to ignore the cash-strapped population demanding a smaller alternative to the 2,400-square-foot new home.
Read More... March 29, 2010
The springtime spurt in home buying may hit before the snow melts this year as buyers scramble to meet an April 30 tax credit deadline.
Read More... March 22, 2010
The supply of foreclosed homes that banks need to sell is rising again, signaling further downward pressure on home prices in some parts of the U.S.
Read More... March 15, 2010
March 15 (Bloomberg) -- The U.S. housing market is poised to withstand the removal of government and Federal Reserve stimulus programs and rebound later in the year, contributing to annual economic growth for the first time since 2006.
Read More... March 11, 2010
The national foreclosure rate fell 2% in February from a month earlier, according to an industry report released Thursday, the latest sign that the pace of foreclosures is slowing.
Read More... March 5, 2010
The real estate crisis has gutted house prices, tipped millions into foreclosure, and rattled the global economy to its core. But for many would-be home buyers, the historic boom and bust have been a blessing in disguise.
Read More... February 28, 2010
The Obama administration, under intense pressure to help millions of people in danger of losing their homes, is considering a ban on foreclosures unless they have first been examined for potential modification, according to a set of draft proposals.
Read More... February 25, 2010
WASHINGTON – The Obama administration will wait until 2011 to propose an overhaul of mortgage giants Fannie Mae and Freddie Mac, Treasury Secretary Timothy Geithner said Wednesday, arguing that he wanted to put some distance between a new system and what he called "the worst housing crisis in generations."
Read More... February 25, 2010
To prop up house prices, the government is becoming a lender of first resort. The results are predictable.
Read More... February 15, 2010
RISMEDIA, February 13, 2010—(MCT)-Average rates for traditional 30-year fixed-rate mortgages have fallen below 5% again, Freddie Mac recently reported.
Read More... February 7, 2010
RISMEDIA, February 4, 2010—A national survey recently released by real estate leader Trulia shows that many Americans feel that President Barack Obama has not lived up to the hope he created during his campaign and his first 30 days in office.
Read More... January 27, 2010
RISMEDIA, January 25, 2010—(MCT)—Americans want smaller houses and they are willing to strip some of yesterday’s most popular rooms—such as home theaters—from them in order to accommodate changing lifestyles, consumer experts told audiences at the International Builders Show.
Read More... December 14, 2009
Colleen Wells heard the housing market was supposed to be picking up, so she felt optimistic when she put her 60-acre farm in Ocala, Fla., up for sale early this year.
Read More... December 3, 2009
RISMEDIA, December 2, 2009—More American homebuyers will get tax relief thanks to changes made to the First-Time Homebuyer Credit.
Read More... November 20, 2009
Pending home sales rose again, marking eight consecutive monthly gains – the longest streak since measurement began in 2001, according to the National Association of REALTORS®.
Read More... November 20, 2009
Nov. 9 (Bloomberg) -- The number of U.S. homeowners who owe more than their properties are worth fell in the third quarter as values stabilized and some homes were lost to foreclosure, Zillow.com said.
Read More... November 20, 2009
You might recall from last week that a new friend of mine, Danielle LaPorte, wrote a guide to finding your "style statement" -- a two-word phrase that "define(s) the true you." While LaPorte's style statements describe the subject individual's aesthetic and world view, I couldn't help trying my hand at creating a few homebuyer profiles based on this principle.
Read More... November 20, 2009
In the depths of the economic crisis earlier this year, Douglas County Bank CEO Billy Mayhew said his bank was drowning in foreclosures as home builders defaulted on their construction loans.
Read More... November 20, 2009
This year will likely be remembered in Atlanta real estate circles as a year of change.
Read More... November 20, 2009
Even as the housing market continues to stagger, foreclosure filings in October declined for the third month in a row. Foreclosure filings were reported on 332,292 properties last month, or 3 percent fewer than September's tally, real estate firm RealtyTrac said today.
Read More... October 12, 2009
The first time homebuyer tax credit may be extended, and even expanded, according to House Speaker Nancy Pelosi.
Read More... October 8, 2009
I heard this week from a young couple wanting help. Thinking about buying their first home, they wondered whether they should just wait until next spring.
Read More... September 25, 2009
Homes are selling again, but the market today is divided by price point. Your best strategy depends on where your home sits on that spectrum.
Read More... September 17, 2009
Curious about what opportunities exist for first-time homebuyers? Questions about how to obtain the $8,000 first-time homebuyer tax credit? Hear what the experts have to say as they answer important questions about this great opportunity.
Read More... August 18, 2009
Some modestly encouraging signs for the metro Atlanta housing market emerged in the second quarter, according to a real estate firm’s report.
Read More... August 14, 2009
NEW YORK (CNNMoney.com) -- As a growing number of Americans default on their mortgages, the Obama administration is set to meet Tuesday with industry executives to discuss their efforts so far to help people save their homes.
Read More... August 14, 2009
RISMEDIA, August 12, 2009-The statistics are sobering. According to RealtyTrac’s Midyear 2009 U.S. Foreclosure Market Report, more than 1.9 million foreclosure filings were reported on more than 1.5 million U.S. properties in the first half of 2009-a 9% increase from the previous six months.
Read More... August 14, 2009
NEW YORK (CNNMoney.com) -- You've heard of speed dating? It's got nothin' on foreclosure buying these days. In many places, anyone who wants to buy a foreclosure better act fast, or they're going to come away with bupkus.
Read More... July 16, 2009
Existing home sales rose in May, as increasingly affordable home prices and a first-time tax credit attracted hesitant buyers.
Read More... July 10, 2009
Offering 1 & 2 bedroom condo units with features like hardwood flooring, cherry maple cabinetry & granite countertops. Foreclosure pricing so they won't last long! Just minutes to Lenox Mall, MARTA, Perimeter, Buckhead & Downtown Atlanta. Prices start at $169,900 / Call Lamar at 404-643-1888 for more information.
Read More... July 10, 2009
Coldwell Banker NRT Development Advisors has launched a Web site to meet the growing demand for bank-owned residential real estate.
Read More... July 10, 2009
Foreclosures headed downward across the country in the second quarter as moratoriums, bailouts, reforms, and negotiations help strapped homeowners hang on to their properties, according the latest U.S. Foreclosure Index from property information specialists ForeclosureS.com.
Read More... July 6, 2009
July 6, 2009
Economic view from the New York Times regarding how to understand mortgage.
Read More... May 14, 2009
Low home prices and an array of incentives have sparked a surge of new buyers. After months of falling home sales, first-time homebuyers contributed to the biggest monthly jump in sales in February.
Read More... May 14, 2009
Builders shifting toward smaller, lower-cost homes to entice buyers. The extravagance that was commonplace in new homes during the housing bubble years of the early 2000s fails to attract buyers. Now, it's all about price.
Read More... May 12, 2009
You don't need to show up at courthouse auctions or comb through legal filings. These days many banks sell foreclosed homes through real estate agents.
Read More... May 12, 2009
Congress has recently passed a federal income tax credit for first-time homebuyers that is the lesser of either 10% of the home’s cost or $8,000. This will be available to qualified first-time home buyers for the purchase of a principal residence between January 1, 2009 and before December 1, 2009.
Read More...