Short Sales Soared While Foreclosures Fell
RealtyTrac reported today 947,995 U.S. properties in some stage of foreclosure or bank-owned (REO) were sold during the year, a decrease of 6 percent from 2011 and down 11 percent from 2010. These...
View ArticleFlorida Shifts into Reverse
While the rest of the nation’s housing markets experience various levels of recovery, most markets in Florida seem to be relapsing to the heyday of the Foreclosure Era after a brief period of...
View ArticleThe Shadow Inventory is Slowly Disappearing
Florida, California, New York, Illinois and New Jersey were home to four out of ten distressed properties in the nation in January, an indication of how far east America’s foreclosure nightmare has...
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Short Sales Are Growing Longer
Perhaps the greatest advantage of a short sale to beleaguered homeowner facing default and foreclosure is the opportunity to move on with life and put the bad debt behind them as quickly as possible....
View ArticleForeclosure Inventory Ballooned in First Quarter
The inventory of properties in the foreclosure process expanded by nearly 10 percent in the first quarter, casting a pall over the housing recovery as local markets prepare for more foreclosures than...
View ArticleNothing to Fear from Zombie Houses
Are zombie houses where the monsters live in the latest Resident Evil sequel? Or are they fraternities decked out for Halloween? Neither. Zombie houses are what RealtyTrac is calling properties vacated...
View ArticlePositive Equity is Driving Down Defaults
Homeowners with positive equity in their homes have fewer problem loans and are outperforming the national average for defaults. Their default rates are close to pre-crisis norms. The latest data from...
View ArticleMortgage Default Risk Nears Ten Year Low
Tough lending standards have cut the risk of mortgage defaults lower than they have been in nearly a decade, but high unemployment is making it premature to declare victory in the mortgage crisis. The...
View ArticleFlorida’s Foreclosure-fatigued Families Flee
Some 20 percent of owners of properties making their way through the torturous foreclosure process are abandoning their homes rather than hoping for a miracle or waiting until the bitter end...
View ArticleFewer Delinquencies Cost Lenders Jobs
For the past six years, mortgage delinquencies, often a result of homeowners losing their jobs, created employment among mortgage servicers who process delinquencies and defaults. Now the shoe is on...
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