Equifax recently released its March National Consumer Credit Trends Report, which showed that there were $43.1 billion in home finance balances written off during the first quarter of 2013, down 23% year over year from $55.4 billion in Q1 2012. Last quarter’s figure is at a five-year low. Write-offs (or severe derogatories) include loans that […]
CoreLogic recently reported that the shadow inventory during the month of January dropped 18% from its January 2012 levels. There are now 2.2 million homes that are considered seriously delinquent, in some stage of foreclosure or REO (real estate owned) by a lender but not listed anywhere as being for sale. Further, January’s figure was […]
A recent survey from YouWalkAway.com showed that 80% of homeowners in strategic default — that is, those who “walked away” from their mortgages when they started facing foreclosure — are looking to buy another house within the next 12 months. This may benefit the housing market early next year: Moody’s Analytics says that there will […]
A recent report from Realtor.com showed that there were 1.48 million homes for sale in January, which is 5.6% lower than the previous month’s inventory and a 16.5% drop from what was available in January 2012. January’s figure was at the lowest level since the firm recorded such data in 2007. The National Association of […]
The Federal Housing Administration has announced that it will be implementing changes to its Home Equity Conversion Mortgage (HECM) program by the end of the month. These changes include a moratorium on the Standard Fixed Rate HECM reverse mortgage and creating guidelines for conducting financial assessments of borrowers and an escrow account to pay for […]
In honor of the holiday season, Wells Fargo, U.S. Bancorp, PNC Financial Services Group, Bank of America, SunTrust, Citigroup, and Freddie Mac will halt evictions from December 17, 2012 to January 2013. Fannie Mae announced that it will also hold off on evictions from December 19, 2012 until January 2013. Rick Simon, spokesman for Bank […]
Homeowners who were forced to foreclose their homes are now said to be homeowners once again due to Federal Housing Administration-backed loans. A borrower usually does not receive mortgages for the allotted a seven-year period due to the foreclosure of their home. However, as a result of the new FHA loans put in place, homeowners […]
A report from CoreLogic that was released this morning shows that the number of homes coming onto the market fell to the lowest level in more than three years. In July, the pending supply of homes — known as “shadow inventory” — was only 2.3 million units, down 10.3% compared to 2.6 million units last […]
Today, Lender Processing Services, Inc. released its “first look” report which showed that the delinquency rate for the month of August fell 2.3 percent compared to July. In addition, the August delinquency rate was 10.6 percent below levels from 12 months ago, according to the report. These statistics were derived from Lender Processing Services’ loan-level […]
Data released by RealtyTrac on April 14 showed that the number of foreclosures in the first quarter of 2011 was lower than what it was during the same quarter in 2010. More than 681,000 homes received a foreclosure filing in Q1 2011, a 27% decrease. That same quarter, 215,046 borrowers lost their homes, which is […]