Many borrowers still owe too much on their home (7/15/2016)
However, Black Knight Financial Service’s latest report finds that rising home prices have helped many borrowers who are no longer underwater.
Fla.’s foreclosure rate dropping, state now No. 4 (7/14/2016)
Fla. has long battled Nevada as the top foreclosure state in the U.S., but RealtyTrac’s latest report finds the Sunshine State down to No. 4 and Nevada at No. 5.
Foreclosed homeowners lost out in two ways (7/13/2016)
Beyond losing their home when values tanked around 2007, displaced owners now face higher rental costs while their buyers have since earned a 79% profit.
New FHA rules created to protect at-risk homeowners (7/1/2016)
HUD announced changes to its program that sells severely delinquent FHA mortgages to private investors in order to protect homeowners from “payment shock.”
CFPB: Mortgage servicer tech failures violate rules (6/27/2016)
The nation’s consumer bureau says some mortgage service firms need better technology – that current programs have harmed homeowners and violated CFPB rules.
MBA: 1Q foreclosure starts lowest in 16 years (5/16/2016)
The number of all foreclosures in the pipeline also hit a low level (1.74%), declining three basis points quarter-to-quarter.
Few homes qualify for mortgage reduction offer (5/5/2016)
RealtyTrac: Only 1 out of 150 seriously delinquent Fla. homeowners (.67%) qualify under the fed’s latest rules to help at-risk owners by reducing their mortgage principal. Nationwide, it’s 1 in 200 (.5%).
FHFA announces principal reduction program (4/15/2016)
A new program offers help to “certain seriously delinquent, underwater borrowers who are still struggling.” FHFA calls the principal reduction a “one-time offer.”
CoreLogic: Fla. foreclosures down 38% in one year (4/12/2016)
Of 21 U.S. states that foreclose via courts, the Fla. inventory decline outpaced second-place New Jersey’s by 12% – and serious Fla. delinquencies are down 34%.
1 million borrowers regained equity last year (3/14/2016)
CoreLogic: 91.5% of U.S. homeowners with a mortgage had equity in their homes by the end of 2015, and the “number of homeowners with more than 20% equity is rising rapidly.”
1.6% of U.S. homes vacant – in Fla., it’s 2.3% (2/11/2016)
RealtyTrac’s latest foreclosure report found 154,179 vacant homes in Fla. – but 74.8% of the homes, while empty, aren’t underwater and have at least some equity.