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.
More owners now have modification option (10/20/2014)
A new rule issued by FHFA will allow some seriously delinquent borrowers who haven’t made a loan payment in two years to qualify for a mortgage modification.
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.
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.
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.
Banks accused of falsely reporting short sales (10/3/2014)
A borrower lawsuit alleges that Wells Fargo and Citigroup hurt their credit reports by misreporting short sales as bankruptcies or foreclosures.
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.
U.S. files lawsuits against foreclosure relief firms (7/24/2014)
Three firms, including one in Fla., allegedly offered to help distressed homeowners but instead used “deceptive marketing tactics to rip off” consumers.
Fewer underwater homes regain equity in 2Q (7/24/2014)
RealtyTrac: 17% of homeowners were “seriously underwater.” It’s a marginal drop over the previous quarter but down from 26% in 2Q 2013.
June foreclosures down 2% – lowest since July 2006 (7/17/2014)
RealtyTrac: June a “milestone” as foreclosure numbers drop to “levels not seen since before the housing price bubble burst in August 2006.” But Fla. still No. 1.
CoreLogic reports 47,000 completed foreclosures in May (7/8/2014)
It’s down 9.4% from year ago. Fla. had highest number (122K) of completed foreclosures for year ending in May; also 2nd highest in foreclosure inventory at 5.2%.
26K Floridians to get Ocwen foreclosure rebate (6/30/2014)
A.G. Bondi says claim forms for part of $125M will be sent to Fla.’s Ocwen borrowers who lost a home to foreclosure between Jan. 1, 2009, and Dec. 31, 2012.
Fla. is home to 1/3 of U.S. zombie foreclosures (6/26/2014)
The state has a high percentage of the nation’s empty homes. Its zombie homes – ones in foreclosure but not yet taken – sit on the market an average 411 days.
SunTrust settlement to benefit Floridians (6/18/2014)
Foreclosure settlement requires SunTrust to modify loans for some borrowers – including principal reduction and/or refinancing – as a result of alleged abuses.
Limits on foreclosure sales stir a debate (6/18/2014)
Why can’t an owner buy his own home – for less money and a smaller mortgage – at a foreclosure sale? Many agree that the rules should at least be softened.
RealtyTrac: U.S. foreclosure activity decreases 5% in May (6/10/2014)
Fla.’s foreclosure activity down 30% year-over-year, for 10th month in row, but had highest state foreclosure rate in U.S. – same as for past 8 months.
Foreclosures drop to lowest level since 2007 (6/2/2014)
CoreLogic: Between 2000-2006, the U.S. had about 21,000 foreclosure sales per year; in April it was 46,000 yearly. Fla. No. 2 for foreclosure inventory: 5.4%
RealtyTrac: Fla. still top state for foreclosures (5/15/2014)
Fla. foreclosure activity dropped 9% year-to-year in April, but at nearly three times the nat’l average, the state’s rate has led U.S. for the past seven months.
Loan servicers use different operating styles (5/5/2014)
The way banks handle distressed homeowners, such as through principal reduction or refinance, can vary depending on the company that’s servicing the loan.
March year-to-year sales up 1% in Fla., prices up 11% (4/24/2014)
RealtyTrac: Sales also rose 1% month-to-month, but sale prices declined slightly: 2%. Also, price increases have slowed in some cities that saw an early rebound.