Bank owned homes and those in some stage of foreclosure accounted 28% of all residential sales in the first three months of 2011, up 1% compared to the fourth quarter of 2010, and the highest since the first quarter of 2010, when foreclosures accounted 29% of all sales, according to a report released by RealtyTrac, [...]
Home loan servicing declined a shy 4% compared to last year: till the end of the first quarter of 2011 the nation’s mortgage companies serviced just a small about of $9.5 trillion in home loans. This drop means that foreclosures and cash-in refinancings are highly important in reducing the national residential debt. As the financial [...]
NATIONWIDE The housing market threatened by another wave of foreclosures The nation’s biggest mortgage lenders and banks have steadily increased their real estate portfolio acquiring a glut of foreclosed homes that now has overgrown and threatens to deepen the housing slump and delay the economic recovery. The numbers are shocking: the nation’s biggest players [...]
The nation’s biggest mortgage lenders and banks have steadily increased their real estate portfolio acquiring a glut of foreclosed homes that now has overgrown and threatens to deepen the housing slump and delay the economic recovery. The numbers are shocking: the nation’s biggest players own more than 872,000 homes as a result of the groundswell [...]
The latest report issued by the National Association of Realtors (NAR) highlights that sales of previously owned homes fell back 0.8% in April, while distressed homes – REOs and short sales – accounted only 37% of total sales volume. This is a 3% decline from March”s 40%, while the average percentage of the first quarter [...]
NATIONWIDE Nation’s biggest lenders accused of defrauding taxpayers It started with Deutsche Bank and now a set a of confidential federal audits accuse the nation’s five biggest lenders of defrauding taxpayers in their handling of foreclosures on homes purchased with loans backed by the government. The five separate investigations were conducted by the Department [...]
It started with Deutsche Bank and now a set a of confidential federal audits accuse the nation’s five biggest lenders of defrauding taxpayers in their handling of foreclosures on homes purchased with loans backed by the government. The five separate investigations were conducted by the Department of Housing and Urban Development’s inspector general and examined [...]
President Obama has made a public call for servicers and mortgage lenders to help struggling homeowners with long-term modifications and principal reductions when it fits the situation. He referred to the American taxpayer’s bailout of the banking system, describing it as the most unpopular action the government has ever done. “We were there for you [...]
JP Morgan’s May home price monitor projects a peak-to-trough 34% decline for the Case-Schiller national index or another 4% decline from the previous quarter to a bottom by the middle of this year. Housing recovery is forecasted to come in 2012-2013 but it will be a modest and slow recovery. The excess supply of homes [...]
NATIONWIDE Foreclosure sales shrink backlog across the country Yes, it’s true that foreclosures are forcing home prices down is most major US cities. But this is the first step to what analysts call ‘housing recovery’: a drop in the glut of home sales in markets hit hardest by foreclosures.Read More.. And the Rate of [...]
We want to say thanks to Eureka for making our short sale possible
Roger and Lisa Pringle
Austin, Texas
