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36 Articles match "2006","Number","Properties"
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The Latest from RealtyTrac
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The Government Goes After Loan Officers
The result is that fees and commissions earned during the past few years have been virtually untouched, even as substantial numbers of lenders, investors and borrowers have failed. In August 2006, Steven Krystofiak, President of the Mortgage Brokers Association for Responsible Lending , testified before the Federal Reserve and said his group compared the income figures for 100 stated-income loans against borrower tax returns. Ninety percent of the stated-income loan applications showed earnings that were exaggerated by at least 5 percent. Sixty percent of the stated amounts were
www.realtytrac.com
- Tuesday, February 3, 2009
Option ARM Borrowers Running Out Of Time
According to Fitch "the potential average payment increase on this recasting population is 63 percent, representing on average an additional $1,053 due each month on top of the current average payment of $1,672." You dont have to be a math major to figure out what will happen next: Huge numbers of option ARMs will fail in the next 24 to 30 months with results that will be devastating to borrowers, loan portfolios and local home values. How They Work Formally known as "payment option adjustable rate mortgages," option ARMs are the most complex residential loan products ever offered.
www.realtytrac.com
- Tuesday, February 3, 2009
High-End Foreclosures Rising Among Top Tier Homes
But increasingly there are signs that the foreclosure problem is spilling over into wealthier areas, where prime borrowers — and even high-end real estate developers — are rapidly falling behind on their construction loans, mortgage payments, property taxes, auto loans and credit cards at an alarmingly fast pace, according to industry analysts, economists and real estate brokers . In a lot of the bubble markets — like Miami, Palm Beach, San Diego, Las Vegas, Orange County and the Inland Empire in California — we are going to see an increase in the number of high-end foreclosures in relatively
www.realtytrac.com
- Tuesday, February 3, 2009
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Cagan: Big Scary Numbers, Little Impact
At first glance, the numbers that Dr. Despite so many zeroes and commas in his numbers, however, Cagan assured industry professionals attending a recent meeting of the Real Estate Research Council of Southern California that those very long numbers will have little impact on the national economy, although they will pack quite a punch for the people most immediately affected by them – lenders, borrowers and investors. “This Based on his latest property surveys (conducted December 2006), the Director of Research and Analytics for Christopher Cagan works with on a daily basis look scary – especially when he’s talking about billions and trillions of dollars.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Two Counts Show Foreclosure Activity Rising
More than 925,000 foreclosure filings were reported on more than 573,000 properties in the first half of 2007, according to the RealtyTrac Midyear 2007 U.S. The report marks the first time that RealtyTrac has included a count of unique property addresses in some stage of foreclosure. But whether you count by total foreclosure filings or number of properties affected by foreclosure, foreclosure activity is up more than Foreclosure Market Report , released yesterday. The addition of this (property count) metric to our foreclosure report was spurred by a data request
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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US Foreclosures a Mixed Blessing in Q2
As the most recently collected data reported today in RealtyTracs Q2 2006 U.S. Foreclosure Market Report suggests, there is both an upside and a downside to the latest numbers. On the positive side, foreclosure activity nationwide during Q2 2006 rose 25 percent over the same quarter last year to 272,109 properties . This is good news for real estate investors, agents and home buyers looking for a piece of the American Dream at a potentially more affordable price. On the flip side, however, foreclosure activity nationwide decreased 16 percent between the first and
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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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.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Buying Bank-Owned REOs at the Auction - RealtyTrac
Buying Bank-Owned REOs at the Auction Search Properties | Free 7-Day Trial Thanks to a sharp rise in foreclosure filings nationwide, homebuyers and real estate investors are increasingly likely to encounter bank-owned properties that are for sale at real estate auctions. Trace below-market priced properties Real estate auctions are gaining in popularity nationwide because they are a quick and efficient way to sell and buy property. The increased presence of lender-owned homes in the market — known in the banking industry as REOs, for "real estate owned" — is fallout from the recent real estate boom that marked the first half of this decade. At the Auction!
www.realtytrac.com
- Tuesday, February 3, 2009
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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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Foreclosure bargain for summer home of JFK's grandfather
A search today on RealtyTrac yielded 25 properties that have been scheduled for auction since the beginning of the year. Thats a relatively high number of foreclosures for a town with a population of just 11,050. times the national average based on RealtyTrac numbers from the first quarter of 2006 (we plan to release full details on those numbers sometime next week). A post last week on The Real Estate Bloggers recounted how the former summer home of President John F. Kennedys grandfather sold for a bargain price at a Feb.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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First Quarter Foreclosure Stats
RealtyTrac released foreclosure numbers for the first quarter of 2006 yesterday, and they show the nations foreclosures moving higher forthe fourth consecutive quarter, despite a decrease in March. The report documents 323,102 properties nationwide entering some stageof foreclosure in the first quarter, a 38 percent increase from theprevious quarter and a 72 percent year-over-year increase from thefirst quarter of 2005. The nation’s quarterly foreclosure rate of onenew foreclosure for every 358 U.S. households was higher than in anyquarter of last year.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Rise in Home Values Keeps Foreclosures in Check
Economics 301 – Home Price Appreciation and Household Net Wealth According to the Business & Economic Review June 2006 released last week by the A. While this is good news for anyone who owns a home, there is a potential downside to this forecast for anyone interested in foreclosure property. And it is one of the reasons that foreclosure activity is expected to remain at a slow upward rate of increase, as evidenced by the Gary Anderson Center for Economic Research at Chapman University, home price appreciation on the national level has been virtually unstoppable since 1980. Reaching
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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FBI: Mortgage Fraud Begets Foreclosure
The FBI recently came out with its 2006 Mortgage Fraud Report , which somewhat anticlimactically concludes that there is “a strong correlation between mortgage fraud and loans which result in default or foreclosure.” Six of those states also appeared in RealtyTrac’s list of states with the highest foreclosure rates in 2006. The FBI also lists Arizona, Colorado, The correlation is apparent in the report’s list of the top states for mortgage fraud: California, Florida, Georgia, Illinois, Indiana, Michigan, New York, Ohio, Texas, and Utah. This is not what many legitimate investors
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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