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.
Couple face foreclosure on home they sold in 1994 (3/26/2015)
Assumable mortgages – ones in which an owner may allow a buyer to assume a loan – have largely disappeared, but they were commonplace before the recession.
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.
Feds push Fannie, Freddie to foreclose less often (3/16/2015)
FHFA actions suggest it’s pushing Fannie Mae and Freddie Mac to get rid of bad loans, but, on a case-by-case basis, lean toward deeds in lieu, shorts sales, etc.
Florida foreclosures fall in January (3/11/2015)
CoreLogic: The state’s foreclosure rate dropped by nearly half year-to-year in Jan. – another sign that the state’s housing market has recovered.
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.
28% of Fla.’s mortgaged homes still underwater (10/23/2014)
The state ranked second nationally behind Nevada, but Fla. cities took 4 of 5 top spots in RealtyTrac’s list of metro areas with “seriously underwater” homes.
Foreclosure niche is a vanishing business (10/20/2014)
A number of real estate agents became foreclosure experts during the recession, but a drop in supply may push many to seek out a new market niche.
Debt collectors can call years after a foreclosure (10/15/2014)
More lenders are pushing “deficiency judgments” – an attempt to collect the amount of mortgage debt that was forgiven as part of a short sale or foreclosure.
RealtyTrac: Fla. leads in 3Q foreclosures (10/15/2014)
Fla.’s foreclosure rate dropped a bit – 4% quarter-to-quarter and 17% year-to-year – but it’s still No. 1. And of the top 10 U.S. foreclosure cities, 8 are in Fla.
Millennials current on mortgage more than other ages (10/6/2014)
TransUnion mortgage report: Mortgage borrowers younger than 30 have the lowest mortgage delinquency rate, but they make up only 4.16% of all borrowers.