U.S., Quicken sue each other over FHA loans (4/24/2015)
The DOJ sued Quicken yesterday, alleging it improperly approved FHA loans, but Quicken sued the U.S. last week alleging it was pressured to admit guilt.
RealtyTrac: Fewer Fla. homeowners are underwater (4/23/2015)
However, the U.S. saw its percent of underwater owners rise in the first quarter, due in part to the loss of property sold by owners who had positive equity.
Group wants to silence ‘pro-foreclosure’ calls (4/21/2015)
Housing advocacy groups have asked HUD and others to investigate media reports that Wall St. firms are promoting foreclosures instead of owner-aid programs.
RealtyTrac: Fla. again top foreclosure state (4/16/2015)
While the state foreclosure rate dropped more than 8% year-to-year in March, it jumped 28% in just one month as the number of bank repossessions increased.
Fla.’s foreclosed owners find way to ‘free’ home? (4/1/2015)
Fla. lawyers say lenders have five years to file a foreclosure after the first default, but banks argue that the clock resets after each missed monthly payment.
Big banks battle Florida foreclosures (3/30/2015)
Some lenders still have trouble proving they have the legal right to foreclose on a homeowner, and a Fla. owner still occasionally wins a battle in court.
Fla.’s foreclosure status improves (3/19/2015)
In RealtyTrac’s Feb. report, Fla. ranked third in total foreclosure rate, but its problems appear to be improving faster than in some other states.
CoreLogic: 1.2M borrowers regained equity in 2014 (3/17/2015)
In Fla., one-in-four homeowners with a mortgage owe more than their home is worth; but by metro area, only the Tampa region ranks in the U.S. top five.
Lots of Fla. HELOCs to reset within four years (3/5/2015)
Of Fla.’s home equity lines of credit, seriously underwater homeowners hold 71%. However, rising values and a stronger economy may counter reset damage.
Loan delinquencies back to pre-crisis levels (3/3/2015)
While Fla. still has foreclosures in the pipeline, the crisis has ended for most homeowners who, by historical standards, are now paying their mortgages on time.
U.S. foreclosure activity up 5% in Jan. (2/12/2015)
Bank repossessions in U.S. up to 15-month high; in Fla., REOs up 17% year-over-year. Fla. had highest state foreclosure rate - one in every 441 housing units.
CoreLogic: 39K completed foreclosures in Dec. 2014 (2/10/2015)
Fla.’s year-over-year foreclosure inventory dropped 48.6% in Dec. - the second biggest decline - but had most completed foreclosures (118K) for the 12 months.
Fla. leads nation in empty foreclosure homes (2/6/2015)
RealtyTrac: Owners have vacated one in four Fla. foreclosures. There are 35,903 today, despite a 35% drop in Fla.’s number of “zombie foreclosures” year-to-year.
Half as many Fla. owners are ‘seriously underwater’ (1/22/2015)
RealtyTrac: By the end of 2014, the percent of Fla. homes with loan-to-value ratios over 125% fell 17 percentage points compared to one year earlier.
Fla. top 2014 foreclosure state, but it’s rebounding (1/15/2015)
RealtyTrac: Fla. was the No. 1 foreclosure state in 2014, but a late-year rebound suggests better times. State foreclosures dropped 15% month-to-month in Dec.
Why so many foreclosures? Banks blame borrowers (12/16/2014)
However, the New York Times blames banks. On Sunday, it blasted lenders for perpetuating a myth that foreclosed owners took a risk they couldn’t afford.
Fla. returns to No. 1 foreclosure position (12/11/2014)
The state improved substantially year-to-year. By metro area, however, Fla. cities ranked as 8 of the top 10 foreclosure hotspots, according to RealtyTrac report.
2015 delinquent mortgages to hit pre-recession level (12/11/2014)
TransUnion: U.S. foreclosures will hit their pre-recession level in 2015, though not the historic norm of 1.5-2%. Fla. has lost 1M mortgages since the recession.
Feds release new consumer foreclosure rules (11/21/2014)
The CFPB proposed new measures to ensure mortgage servicers treat struggling homeowners fairly, including more than one opportunity for foreclosure help.
RealtyTrac: Home flipping at lowest level since ‘09 (11/20/2014)
About 4% of U.S. home sales were flips (bought and resold within 12 months) in the third quarter, with Miami and Tampa ranking in the top five.
The risk of aiding credit-challenged clients (11/20/2014)
Buyers with poor credit or recent foreclosure often turn to their agent for advice. If so, direct them to a reputable source that can actually provide help.
Fla. drops to No. 2 U.S. foreclosure state in Oct. (11/13/2014)
Maryland was No. 1 as Fla. foreclosures dropped 2% month-to-month and 25% year-to-year. Miami led U.S. metro areas, but some areas noticeably improved.
Fla. still home to the most zombie foreclosures (10/30/2014)
While Fla. had almost 36,000 vacant (aka zombie) 3Q properties, things are improving: The number dropped 26% since the second quarter and 34% year-to-year.
Mortgage giant says ‘sorry’ to homeowners (10/29/2014)
Ocwen Financial posted a letter of apology to homeowners after accusations that it backdated borrowers’ letters about their loan modifications or foreclosures.
Fla. cities have more short sales, public auctions (10/28/2014)
RealtyTrac: 8 of 9 top U.S. short-sale cities are in Fla., and metros landed all 5 top spots for public foreclosure auctions – but none rank high for REO sales.