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U.S. foreclosures at lowest level since 2007
A new report shows a 34 percent decline in the number of foreclosure filings in the United States last year, to the lowest level since 2007. RealtyTrac, an online foreclosure data firm, released its year-end report Thursday. In it, figures show there were nearly 2.7 million foreclosure actions — which include default notices, scheduled auctions […]
U.S. foreclosure activity hit 7-month high in Oct.
LOS ANGELES — More U.S. homes entered the foreclosure process in October than in the previous month, with Florida, Pennsylvania and Indiana registering among the largest monthly increases, new data show. Some 77,733 properties received an initial default notice last month, up 10 percent from September, foreclosure listing firm RealtyTrac Inc. said Thursday. The number […]
Obama offers mortgage relief on Western trip
President Barack Obama is offering mortgage relief to struggling homeowners in hard-hit Nevada and around the country — saying he can’t wait for an “increasingly dysfunctional Congress” to act. The president said Monday that “where they won’t act, I will.” He made the comments in remarks prepared for a stop in Las Vegas as he […]
Realities of Real Estate: Avoiding a double-dip in housing
Recently, there has been much speculation about whether or not we might be on the verge of a double-dip recession. Similarly, in some localities, real estate appears to be sluggish, if not stalled. The economy as a whole and the housing market tend to go hand, following the same path, so it’s not unusual that […]
Lenders step up foreclosure intent filings
Maryland housing officials say lenders have filed an average of 15,000 intent notices per month against homeowners since January, indicating a new wave of foreclosures may soon hit the state. The disclosure came Thursday after a national report from RealtyTrac that said banks and lenders may soon restart issuing large volumes of foreclosure notices following […]
Mortgage default warnings surged in August
LOS ANGELES — Banks have stepped up their actions against homeowners who have fallen behind on their mortgage payments, setting the stage for a fresh wave of foreclosures. The number of U.S. homes that received an initial default notice — the first step in the foreclosure process — jumped 33 percent in August from July, […]
Foreclosure activity slowed in first half of 2011
LOS ANGELES — The number of homes taken back by lenders in the first half of this year fell 30 percent compared with the same 2010 period, the result of delays in foreclosure processing that threaten to stall a U.S. housing recovery. Banks seized 421,212 homes in the first six months of the year, down […]
Melody Simmons’ real estate notebook
The Strata Group this week formed a foreclosure unit that will specialize in “all aspects of transforming bank-owned properties into assets for homebuyers and investors in Central Maryland.” The group will offer comprehensive services to entities that control foreclosed properties, including banks, asset managers, and government-sponsored entities (HUD, Fannie Mae, and Freddie Mac), said Billy[...]
U.S. foreclosures dip in May
Foreclosures in May rated a 2 percent decrease over April figures, according to data from RealtyTrac released Thursday. The monthly report by the online realty marketing group stated there were 214,927 foreclosure filings last month in the U.S. – a slight decrease from April and a 33 percent decrease over May 2010 figures. In total, one […]
Lenders repossessed fewer homes in May
LOS ANGELES — The number of U.S. homeowners who were put on notice for being behind on their mortgage payments fell in May to the lowest level since 2006, the result of a slowing housing market and lingering delays in banks’ foreclosure process. Mortgage lenders, many of which are still working through foreclosure documentation problems […]
Processing delays slow foreclosure activity in 1Q
LOS ANGELES — Lender processing delays reduced the number of U.S. homes taken back by banks in the first three months of the year and contributed to a sharp drop in properties entering the foreclosure process. But March foreclosure data suggest foreclosure activity may be starting to creep higher, as lenders make progress tackling a […]
Foreclosure activity slows sharply in February
LOS ANGELES — The number of U.S. homes receiving a foreclosure-related notice fell to a 36-month low last month, as lenders delayed taking action against homeowners amid heightened scrutiny over banks’ handling of home repossessions. Some 255,101 properties received at least one of the notices in February, down 14 percent from January and 27 percent […]
