Tag Archives: foreclosures

CoreLogic Reports 26th Straight Month of Foreclosure Declines

CoreLogic’s most recent National Foreclosure Report announced that foreclosures across the U.S. have fallen 14% between December 2012 and December 2013. This marks 26 consecutive months of falling foreclosure rates and 15 straight months of year-over-year declines. These statistics show that the housing market is improving, despite the disappointing pending home sales report from the […]

House Flipping Increases By 16% in 2013

The trend of flipping houses has become popular again, with the housing market seeing a 16% increase last year from 2012 and up 114% from 2011, according to  RealtyTrac’s fourth-quarter 2013 Home Flipping Report. The one-time common trend began dropping after home prices started to plunge a few years ago. Now, as home prices are […]

New Mortgage Lending Rules Take Effect

The Consumer Financial Protection Bureau recently issued new rules that were designed to create a “back to the basis” approach for mortgage lending. The new rules have been implemented to lower the risk of defaults and foreclosures. Under the new regulations, mortgage lenders are being asked to follow the Ability to Repay rule and Qualified […]

GSE Sees Foreclosures Drop 11% in Q2 2013

Reports have shown that Foreclosures and delinquencies have continued to drop within government-sponsored enterprises such as Fannie Mae and Freddie Mac after second-quarter reviews from the Federal Housing and Finance Agency’s (FHFA) Foreclosure Prevention Report. Interestingly, third-party sales and foreclosures fell 10% from last quarter and foreclosure starts decreased by 11%. This is the result […]

Foreclosures in Long Island Stay Above National Average

According to a recent article in Newsday, new foreclosure cases on Long Island are spiking, even as the mortgage crisis fades in the rest of the United States. The article states that although home values are on the rise — suggesting a housing rebound on the Island — lenders filed 12,271 initial foreclosure cases in […]

RealtyTrac: Foreclosures In July See Slight Increase

RealtyTrac’s Foreclosure Market Report recently came out. It showed that foreclosure filings were reported on 130,888 U.S. properties (one on every 1,001 residential units) during the month of July. That is a 2% increase from the previous month, but down 32% year over year. (Foreclosure filings consist of default notices, scheduled auctions and bank repossessions.) […]

Delinquencies Decrease, But Foreclosures Start to Inch Up

According to Lender Processing Service’s “Mortgage Monitor,” more than 3.1 million, or 6.21% of home mortgages, were more than 30 days delinquent but were not foreclosed in the month of April. This is a slight decrease from the 6.59% delinquency rate in March, in which over 1.7 million homes were more than 30 days, but […]

Existing Home Sales Fall in March, Prices Rise

Citing a shrinking number of homes available on the market, the National Association of REALTORs announced recently that existing home sales fell last month. The lack of availability has also resulted in higher home sales prices. The NAR reported that existing home sales declined 0.6% from a downwardly revised 4.95 million units in February to […]

Housing Market Touts Recovery, Thanks to Distressed Home Sales

This year has seen a stronger housing market. Most of the recovery can be attributed to record-low interest rates but one of the reasons for this improvement is the number of distressed homes being bought. Homeowners, who saw rising home prices as more houses were coming off the market, turned to foreclosure and short sales […]

Affordable Financial Services LTD Weekly Review

RealtyTrac recently reported that short sales outpaced foreclosure sales in 2012 by a 3-to-1 margin. While foreclosure sales accounted for 11% of all sales — a 13% drop from 2011 — short sales made up 32% of all sales last year, a 5% year-over-year gain. In the fourth quarter of 2012, foreclosures sold at a […]