13 Articles match "2007","September"

• The Best from RealtyTrac

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• California Foreclosures 2007: Steady As She Goes
  
  The state hit its peak towards the end of the year, taking the nation’s top spot for September, October and November. That said, foreclosure levels for 2007 are more likely to be a continuation of 2006, rather than a reprise of the early 1990s when foreclosures were rampant due to extensive job losses, high interest rates, high inflation and a resulting recession. At the end of the day, it will all amount to an economic environment in 2007 that will not Through November, RealtyTrac tallied nearly 130,000 properties that entered some stage of foreclosure in California alone during 2006; accounting for roughly 11 percent of the nation’s foreclosures for the same period.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Foreclosure Activity Deflating or Just Deferred?
  
  foreclosure activity in June decreased 3 percent from the previous month but was still up 53 percent from June 2007, according to the RealtyTrac U.S. In fact, the RealtyTrac report has shown month-to-month decreases in previous months, even during the dramatic run-up in foreclosure activity that has occurred over the past year and a half: in February 2008, November 2007, September 2007, June 2007, April 2007, and February 2007. U.S. Foreclosure Market Report released today.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• MBA Numbers Mirror RealtyTrac Data:
  
  percent from July through September. Looking ahead to 2007, the mortgage association expects delinquencies and foreclosures to continue on the rise at a “modest increase” over the next several quarters “as the housing market bottoms.” The number of delinquent mortgage payments and foreclosures jumped in recent months, according to a new survey released today by the Mortgage Bankers Association . The MBA’s quarterly report — surveying more than 42 million mortgages nationwide — found that the rate of delinquencies and foreclosures rose to 4.7
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Fed Plays a Delicate Balancing Game With Rate Cut
  
  The rationale given for the move was the intensification of what the Fed continues to refer to as the nation’s housing “correction” which, by the way, has been ongoing for the better part of 2007. Today’s action, combined with the policy action taken in September, should help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and promote moderate growth over time,” the FOMC said in a statement published October 31. In a move aimed at quelling fears of a looming recession, the Federal Open Market Committee took the country’s teetering monetary affairs seriously two weeks ago and lowered the short term federal funds rate another quarter of a percentage point to 4.5
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• How Much for Those Lender Assets in the Window?
  
  This is a huge issue because at the end of 2007 the United States had residential mortgages worth $10.5 In September Merrill was bought by the Bank of America for $29 a share . Thats a 70 percent premium over the stocks pre-acquisition value — but far from the one-year high of $77.89. The WAMU Deal In September, JP Morgan Chase paid $1.9 How Much for Those Lender Assets in the Window? By Peter G. Miller    Long ago there was a song which asked the magic question, how much for that doggie in the window?
  www.realtytrac.com - Tuesday, February 3, 2009
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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. According to the RealtyTrac September
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Legislating Lower Foreclosure Rates?
  
  Also below is a heat map RealtyTrac created of the Chicago area based on the number of total foreclosure filings (defaults, sales and REOs) in September. One such law is Illinois Senate Bill 2349 , which passed back in June and is scheduled to become effective January 1, 2007. An Illinois law intended to help reduce foreclosures is drawing cries of discrimination from some of the people it is trying to protect, according to the Chicago Defender newspaper. “Nearly 60 days after Illinois House Bill 4050 went into effect to supposedly protect consumers from predatory lenders, a coalition of Black and Latino city residents say the new law is actually destroying property values in select minority communities.” The law is a pilot program that is being applied in 10 Chicago zip codes chosen for their high foreclosure rates, among other factors.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• A 'Dialogue' on the Housing Market
  
  Appearing on a recent episode of “Dialogue with Jim Doti”, RealtyTrac CEO James Saccacio cited a number of factors for the more than 60 percent year-to-year increase in foreclosure activity in September 2006. The nation’s foreclosure total already broke the 1 million glass ceiling in October , and just how high foreclosure levels will go in 2007 is open to debate depending on how steep one believes the downturn will be. “When Chief among those — local economic conditions, poor planning for the future by home buyers, and rising interest rates. Now the stage is set.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Mortgage Reform to Calm Foreclosure Storm
  
  Called The Mortgage Reform and Anti-Predatory Lending Act of 2007, the bill ( H.R. Illinois House Bill 4050, a pilot program for 10 Chicago zip codes that was enacted in September 2006, was suspended by Gov. Although foreclosure filings in Cook County increased from the third quarter to the fourth quarter of 2006, foreclosure activity in the third quarter of 2007 is down 5 percent from a year ago. In an attempt to address the recent downturn in the real estate market — evidenced by rising foreclosures and falling home prices and which many believe may threaten to undermine the overall economy — the House of Representatives yesterday passed a bill that imposes more stringent regulatory oversight of the mortgage industry.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• OTS Director Offers Alternative Plan to Congress
  
  Reich pointed to the FHASecure program as an example, where 116,000 loans have closed since the program was launched in September 2007, but only 1,500 of them were made to refinance delinquent conventional loans. Under the FHA Housing Stabilization and Homeownership Retention Act of 2008 (the HSHR Act), the FHA proposes to guarantee up to $300 billion in new mortgages to refinance existing eligible mortgages originated between January 1, 2005 and July 1, 2007, the report notes. In a statement delivered before the Committee on Financial Services of the U.S. House of Representatives
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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