Tag Archives: foreclosure

U.S. Homeowners Are Dropping In Numbers

U.S. Homeowners Are Dropping In Numbers

A report from the U.S. Census Bureau revealed a surprising truth: the rate of homeownership is at its lowest point in over twenty years. In fact, in Quarter 1 of 2015 just 63.8 percent of people owned their homes. This is a decrease from 64.8 percent in the first quarter of 2014. This rate is

Drop In Foreclosure Inventory for January 2014

The CoreLogic National Foreclosure Report recently released its figures on the country’s foreclosure inventory, revealing yet another drop for January 2014. This makes 27 consecutive months that the foreclosure inventory has declined. At present, the foreclosure inventory stands at approximately 790,000, as opposed to 1.2 million one year ago. Anand Nallathambi, CEO of CoreLogic, predicts

WHERE DID ALL THE DISTRESSED PROPERTIES GO?

After the market collapse in 2007, in some local markets 75%-90% of all transactions were foreclosures or short sales. What a change a few years can make! California’s distressed housing market is a fraction of what it was at the height of the Great Recession. In January 2009, nearly seven of every 10 homes sold

Is the Foreclosure Crisis Nearing its End?

Just about everyone has been affected by the foreclosure crisis. If you were fortunate enough not to run into a problem with your own home loan, you likely know someone who has, and perhaps know someone who lives in a neighborhood in which foreclosures became commonplace. If so, you know how tough it can be

Feds Crack Down on Foreclosure Auction Scams

A report from the Associated Press sheds light on a growing trend of illegal scams. Federal authorities have arrested and charged 54 people and two companies for bid rigging at courthouse auctions. California had the most cases, but law enforcement officers busted similar rings in Mobile, Alabama and Raleigh, North Carolina. One person was told

WHERE HAVE ALL THE REOs GONE?

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The amount of foreclosed homes on banks’ books has dropped by 18 percent in the last year, the Federal Deposit Insurance Corp. reports. The FDIC also says that levels have been dropping since the third quarter of 2010. As of June 30, banks held $41.7 billion in REO properties — that’s down from $51.2 billion

WANT FEWER COMPLAINTS? UTILIZE A TOP RATED REALTOR

When it comes to mortgages and home improvement, many consumers have some complaints, according to a new survey by the Consumer Federation of America, which reveals the top consumer complaints of last year. Among its list of 2011 top “worst” consumer gripes: mortgage-related problems, home improvement, timeshare sales and resales, Internet sales, and fraud. Many

There Go the Legislators Again, with Unintended Consequences

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Twenty-five states have bills in front of lawmakers that seek to make it more challenging for banks to foreclose on home owners, The Wall Street Journal reports. But lenders argue that the bills are roadblocks that are hindering a housing recovery. For example, on Monday, California state lawmakers approved a bill that would apply a