29 Articles match "2005","Mortgage"

• The Best from RealtyTrac

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• For Some, Mortgage Meltdown Means Opportunity
  
  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. Although the trend started late in 2005, it accelerated to 1.2 Warning signs already had begun to manifest themselves last year as the recent housing boom was starting to reverse. million foreclosure filings in 2006, up
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• No Mortgage Meltdown For These Banks
  
  No Mortgage Meltdown For These Banks By Peter G. Miller     The news from Wall Street in recent weeks has not been good, especially in the world of mortgages. One result is that the mortgage meltdown is described in global terms, as if all lenders offered toxic loans during the past few years and the entire financial community is universally in trouble. Famous lenders with once-fabulous finances are turning up in the headlines among the broke and busted. The facts are different.
  www.realtytrac.com - Tuesday, February 3, 2009
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• Foreclosures Inch Higher in May
  
  The data show nationwide foreclosures inching up 2 percent from the previous month and 28 percent from May 2005. “Our May numbers echo the recent report by the Mortgage Bankers Association, which noted that delinquency and default activities were lower in the first quarter of 2006,” commented James J. While our report confirms that the number of properties entering foreclosure is still significantly higher than it was during the same period of 2005, we’ve now seen two months of decreasing foreclosure rates followed by May numbers that were essentially flat. RealtyTrac just released state and national foreclosure statistics for the month of May .
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Defaulting on the American Dream: A Troubling Trend
  
  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. Foreclosure filings jumped 42 percent nationwide in 2006, accelerating a trend that began in 2005 as home sales started to cool. Last year, 1,259,118 U.S. properties entered some stage of foreclosure, up from 850,000 properties in 2005, according to RealtyTrac research .
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• 2007: Housing Slowdown Good for Foreclosures
  
  Housing starts are expected to remain down in many parts of the country, due to increased marketing time and inventories of unsold homes that grew from a 3.7-month supply in 2005 to a 7.3-month supply in 2006 at the national level. Mortgage rates increased 15 percent between 2005 and 2006, but economist and Chapman President James L. Higher The cooling real estate sector will continue to plague the national economy next year, but enough positive economic fundamentals remain in place to counteract forces threatening to push the U.S. housing market into a full tailspin, according
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Fed Stands Fast on Rate; Little Solace for Homeowners
  
  Although this bodes well for consumer loans, home equity lines of credit, and credit cards, it does little to alleviate the long-term effects starting to be felt by homeowners who signed on to very risky adjustable-rate subprime mortgages during 2005 and 2006. The interest rates on more than $1 trillion in these “exotic” mortgages are due to reset to higher rates in both 2007 and 2008. It wasn’t long after Ben Bernanke took over the reins of the Federal Reserve from Alan Greenspan that he put a halt to the 17 consecutive upward adjustments in the federal funds rate (FFR) — the short-term interest rate banks charge each other — back in August 2006.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• 2006: An Adjustable' Year for Foreclosures
  
  The Federal Home Loan Mortgage Corporation (better known as Freddie Mac) has just released the results of its 23rd Annual Adjustable-Rate Mortgage survey of prime loans. Based on data collected between December 18 and December 21, 2006, the survey cited three major conclusions: That the overall market share of adjustable-rate mortgages (ARMs) as a whole declined in 2006 as the savings gap in interest rates between ARMs and fixed-rate mortgages shrank; Lenders offered greater incentives (discounts) in 2006 in order to maintain the flow of ARM originations coming in the door; and
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Foreclosures Won't Break the Market Next Year
  
  Director of Research and Analytics for First American Real Estate Solutions, said that even with $1 trillion of adjustable-rate mortgages ready to reset to higher interest rates in both 2007 and 2008, he believes the number of defaults and foreclosures resulting from the increased mortgage payments will be “painful but won’t break the economy or the market.” Basing his comments on data collected on first mortgages — with an emphasis on those originated between 2004 and 2005 — Cagan said, “We have to figure out who has equity and who doesn’t. In all, the table
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Negative Savings Rate Portends More Defaults
  
  percent in 2005. They can spend less in other areas of their budget, increase their income with a new job or another job, refinance at a lower rate, or refinance at a fixed rate if they have an adjustable rate mortgage scheduled to reset in the near future. million foreclosure filings were reported nationwide during the year, up 42 percent from 2005 and a foreclosure rate of one foreclosure filing for every 92 U.S. A Commerce Department report released last week confirmed that Americans are continuing to spend more than they make, setting the stage for more increases in foreclosure activity in 2007.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Short sales rising
  
  That indicates lenders are getting more eager to unload properties in foreclosure, even if it means selling them for less than is owed on the mortgage. Short sales occur when home prices fall and mortgage debt exceeds the value of the property. short sale refers to a situation where a homeowner lacks sufficient equity to close a transaction and asks the lender to accept less than the full mortgage balance for a loan payoff. Scanning the Southern California Multiple Listing Service (MLS) last week, the one thing that stands out is the growing number of short sales. Last year,
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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