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.
U.S. home equity continues to improve (1/12/2015)
CoreLogic: More homeowners are starting to see home equity, but Fla. still ranks second in its percent of owners with a mortgage who remain underwater.
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.
U.S. says Flagstar Bank failed to help homeowners (9/30/2014)
Fed consumer bureau says Flagstar will pay $37.5M, alleging the bank took too long to process foreclosure relief, and delayed modifications and final payments.
Fla. No. 1 in Aug. for short sales and foreclosures (9/25/2014)
The state ranked No. 8, however, for U.S. REO sales, says RealtyTrac report. Overall, one in four Aug. sales in Fla. was a REO, foreclosure or short sale.
Fannie: Minimum wait times shorter after foreclosure (9/11/2014)
Fannie Mae nixed loan-to-value (LTV) requirements. All applications will soon have a four-year waiting period – two years with extenuating circumstances.
RealtyTrac: U.S. foreclosure activity up 2% in July (8/14/2014)
But in a year-to-year comparison, foreclosure activity is down 16%. Fla. still ranks first nationally for foreclosures, but they’re down 30% year-to-year.
REO inventories shrinking for Fannie, Freddie (8/12/2014)
In the past four years, Fannie’s REO inventory declined 58% compared to 3Q 2010; Freddie’s inventory is down 48%.
Fears fading over looming home equity resets (8/11/2014)
The old fear: Many recession-era, interest-only home equity loans will reset, leading to new foreclosures: The new thought: The risk isn’t as bad as feared.
Foreclosure inventory down 35% but celebration muted (8/4/2014)
U.S. foreclosure inventory plunged, but it’s not yet time to break out champagne. Housing experts aren’t quite ready yet to declare the foreclosure crisis over.