A decrease in foreclosure filings reported for August 2010

Tuesday, February 07, 2012

Mortgage loan applications have increased 23% this last week due to record low rates.

Orlando, FL (MBNews.org) -- Historic record low have encouraged many homeowners to refinance according to the Mortgage Bankers Association.

We have seen refinancing activity climbed 26.4% just this week week ending January 13, to its highest level since early August, the MBA reported. Meanwhile applications for new mortgages climbed 10.3% week-over-week.

Time to buy a house? Home prices have fallen and mortgage interest rates are lower than they have ever been.

Miami (MBNews.org) — Time to buy a house? Home prices have fallen and mortgage interest rates are lower than they have ever been.

A recent report from J.P. Morgan Asset Management, titled “Housing: A time to buy,” written by David Kelly and David Lebovitz, made the case for why a home may be a wise purchase. Read more: Mortgage rates plunge beyond expectations.

Although the U.S. housing market remains extremely depressed, we believe that given current valuations and demographic dynamics, now may be the time to consider an investment in housing,” the report said.

Goldman, Two Firms Agree on Foreclosure-Signing Practice

Goldman Sachs will compensate some home loan borrowers for wrongful foreclosures under an agreement reached with a New York state banking regulator.

The agreement, which New York financial services superintendent Benjamin Lawsky reached with Goldman [GS 112.16 -4.06 (-3.49%) ] and Ocwen Financial [OCN 13.28 -0.52 (-3.77%) ], contains several measures to strengthen the oversight of foreclosure proceedings.

It also will allow Goldman's planned sale of its Litton Loan Servicing LP unit to continue.

U.S. asks Bank of America to report back up plans if conditions worsen

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U.S. asks Bank of America to report back up plans if conditions worsen

U.S. regulators have pushed Bank of America Corp. to show what measures it could take if conditions worsen for the Charlotte, N.C., lender, according to people familiar with the situation.

U.S. regulators have pushed Bank of America Corp. to show what measures it could take if conditions worsen for the Charlotte, N.C., lender, according to people familiar with the situation. Read more...

More Americans at Risk of Foreclosure

The number of Americans at risk of foreclosure is rising, reflecting the U.S. economy’s continued struggles.

The Mortgage Bankers Association said Monday that 8.44 percent of homeowners missed at least one mortgage payment in the April-June quarter. That figure, which is adjusted for seasonal factors, rose 0.12 percentage point from the January-March period. Read more...

New York AG Kicked Off Foreclosure Probe Panel

Iowa Attorney General Tom Miller said late yesterday that his New York counterpart, Eric Schneiderman, had been removed from the executive committee working on a multistate foreclosure probe – and potential settlement – with U.S. banks.

A decrease in foreclosure filings reported for August 2010

Top News

Friday, 03 September 2010 15:35

By Elizabeth Martinez

Miami, FL- According to reports by Foreclosure Deals, an online leader in the foreclosed homes for sale listings and information industry, foreclosure filings for the month of August have gone down from last year’s numbers. The total number of foreclosures in Augusts is 325,225, which represents a 10% decrease from foreclosure totals in June 2009.

Further research performed by Foreclosure Deals shows that REO properties totaled 94,500 during July with a drop of less than 1% in the month of August. Notices of default, which mark a new foreclosure, were up 1% in July from previous month, but down over 28% from July of 2009.

"Foreclosure totals are up over 300,000 for the month of August, and that's a huge number," remarked James Foxx, a business analyst with Foreclosure Deals. "A lot of bank repos are occurring because they're finally clearing out the huge log of properties that have been in foreclosure limbo due to moratoriums, loan negotiations and similar delays.

Notices of default are down, but a lot of that has to do with foreclosure prevention programs. So we're cutting down on new foreclosures, but there are still plenty of bank-owned homes out there, keeping the foreclosure inventory high."

"A lot of buyers are reporting great deals on bank repossessions," notes Foxx. "Banks are looking to get rid of that surplus inventory, and prices have been very competitive."

At the top of the list for states with highest foreclosure totals are: California, Florida, Michigan, Illinois and Arizona. These states all saw foreclosures increase during August by at least 7%, except for California, which saw its totals decrease slightly by 3.1%. Illinois saw a staggering monthly increase of 33% mainly in Chicago. However, Arizona, Florida and Nevada, all saw a dramatic decrease in foreclosures from August of 2009. Other states saw their foreclosure rate increase dramatically during the same time period, including Michigan, up 128%; Illinois, up 35%; Maryland, up 35%; and Georgia, up 13%.

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