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14 Articles match "2005","May","Sales"
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The Latest from RealtyTrac
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Option ARM Borrowers Running Out Of Time
Because Fitch says that a 40-year loan term represented 4 percent of all option ARMs in 2004 -- but 38 percent by 2007. A loan with four payment options may seem fairly understandable, but in the real world a lot of borrowers did not take out option ARMs because they wanted to make fully-amortizing payments. For instance, to reduce down payment requirements borrowers could buy with "piggyback" financing, deals with a first loan equal to 80 percent of the purchase price and a second loan equal to 10 percent, 15 percent and even 20 percent of the sale value. Option ARM Borrowers Running Out Of Time By Peter G.
www.realtytrac.com
- Tuesday, February 3, 2009
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Defaulting on the American Dream: A Troubling Trend
Foreclosure filings jumped 42 percent nationwide in 2006, accelerating a trend that began in 2005 as home sales started to cool. properties entered some stage of foreclosure, up from 850,000 properties in 2005, according to RealtyTrac research . quot;As more and more of these loans re-set this year, we may see a rise in foreclosure filings," said James J. A rising number of Americans — particularly those who took out riskier adjustable-rate and subprime mortgages — are increasingly defaulting on their loans, according to figures released this week by RealtyTrac , providing striking evidence that a growing number of borrowers are at risk of losing their homes.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Local Market Perspective: Lake Havasu, Ariz.
In May 2008, there were 272 new listings, down 1.5 percent from May 2007. There were 134 sold listings in May 2008, down 15.52 percent from May 2007. I am seeing a rise in foreclosures and short sales far higher than May of 2007. With a population of fewer than 55,000, the Lake Havasu, Ariz., real estate market is still declining.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Florida Homeowners Overconfident Despite Foreclosures?
That report showed a 24 percent drop in home sales both year-to-date and year-over-year through May 2006. Yet despite lower sales volume, FAR also reported that the states median home price continues to go up -- 11 percent on a yearly basis from May 2005, and 15 percent year-to-date, giving some credence to the 71 percent of homeowners surveyed by The Fund who believe that affordability is the biggest obstacle to homeownership in the state. Results of a new study released last week by Attorneys Title Insurance Fund (The Fund) suggests that Florida homeowners are feeling pretty good nowadays about the value of their homes and the potential for those values to rise further in the future.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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March Goes Out Like a Lamb
Even with the drop, over 100,000 new properties entered some stage of foreclosure in March, and the foreclosure rate still represented a 63% increase over March 2005. Will Spring sales keep foreclosure rates from creeping up? I am open to other viewpoints who may think Im wron A glimmer of hope or the calm before the storm? Whichever way you choose to view it, the good news is that the national foreclosure rate dropped by 13% in March, according to the RealtyTrac U.S.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Make Food, Not Foreclosures
Contributing to the downfall are high unemployment, low home sales volume and deflating home prices. Ground was broken on the first “farm” in May. Urban Farming has been doing this around the country since it was founded in 2005. The properties where the farms are located are left available A non-profit group has launched a program to turn former foreclosures into farmland. National Public Radio is reporting that the non-profit group Urban Farming requested that Wayne County, Mich.,
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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For Some, Mortgage Meltdown Means Opportunity
Although the trend started late in 2005, it accelerated to 1.2 And this may only be the beginning, as the last three months have indicated a speedup in such a destabilizing process. With fewer loans, fewer sales and fewer options available to struggling subprime borrowers, the future looks bleak for subprime lenders and their battered customers. Cracks are appearing in the foundation of the housing market as shock waves — triggered by concern over a surge in bad subprime mortgages — jolted the stock market this week, sending the Dow Jones industrial average downward by more than 243 points, amid fears that a mortgage meltdown in the subprime lending sector could have broader economic implications.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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A Small Silver Lining in Q1 Foreclosure Storm
Dispatches from Detroit indicate that free-market forces may be the catalyst. The Detroit Free Press reported that "Detroit home sales shot up 30.8% That in turn allows lenders to start unloading foreclosure inventory, easing a heavy burden that has been weighing down the citys housing market. Different forces may be at work in Philadelphia, helping that citys foreclosure rate remain relatively low. While foreclosure activity in the first quarter of 2008 was up on a year-over-year basis in 90 percent of the nations 100 largest metropolitan areas, according to the RealtyTrac Q1 report issued today, there were a few notable exceptions that could prove to be a harbinger of hope for the nations battered housing market.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Ohio Lawmaker Seeks Solution to Foreclosure Level
According to the RealtyTrac Q2 2006 Foreclosure Market Report , the total number of foreclosures in Ohio actually declined by 30 percent from Q1 2006, although still up 85 percent from Q2 2005. At the local level Cuyahoga County went from the county with the highest foreclosure rate in the state — one foreclosure filing for every 453 households in May — down to the seventh highest foreclosure rate in the state — one foreclosure filing for every 508 households — for June. It looks like foreclosures are starting to become a national call to action for some Washington bureaucrats. One example
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Will Homeowners Sink or Swim?
Foreclosure Market Report, which shows 112,210 properties nationwide entered some stage of foreclosure during the month, a decrease of less than 1 percent from August, and a 63 percent increase from September 2005. And prices of existing homes fell in August for the first time in 11 years as sales dipped to their lowest level since early 2004, according to the National Association of Realtors . Many American homeowners — initially attracted to low teaser rates on those “exotic” ARMs and sub-prime loans — now find themselves swimming upstream in a desperate attempt to remain financially afloat.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Bank-Repossession Beat Continues in March
And for the second month in a row, the number of bank repossessions, or REOs, was up more than 100 percent year over year. The implication: while significantly more homeowners are falling into foreclosure, there is an even bigger increase in the number of homeowners already in the process who are losing their homes to foreclosure — whether through the typical foreclosure sale mechanism or whether by pre-empting the public foreclosure sale through what is called a deed in lieu of foreclosure. The lender also has to agree to the DIL arrangement, which may involve clearing out
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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