13 Articles match "Foreclosures","July","Real Estate"

• The Best from RealtyTrac

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• July Foreclosure Report
  
  foreclosure activity in July increased 8 percent from the previous month and 55 percent from July 2007, according to the RealtyTrac Foreclosure Market Report released today. View state-by-state details . That is in contrast to REOs accounting for just 16 percent of all activity in July 2007, while defaults in July 2007 were still at 41 percent and auction notices were at 43 percent. U.S. Bank Repossessions (REOs) accounted for 28 percent of all activity during the month, while defaults accounted for 41 percent and auction notices accounted for 31
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• 5 States = 55% of July Foreclosure Pie
  
  foreclosure filings in July, according to the RealtyTrac U.S. Foreclosure Market Report released today. The foreclosure filings tracked in the report are default notices, auction notices and bank repossessions. California reported the most foreclosure filings of any state, with 39,013. California, Florida, Michigan, Ohio and Georgia together accounted for 55 percent of all U.S. The states foreclosure activity was actually down a half a percent from the previous month but still up 289 percent from July 2006.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• The $3 Billion Foreclosure Payday
  
  Last year, Paulson made $3 billion betting on foreclosures . During the last housing slump, Paulson was a foreclosure investor, buying two distressed properties; a New York apartment and a large home in the Hampton on Long Island. In July 2006, the ABX index began with a value of 100, but it soon fell to 60 and Paulson’s profits began to pile up. You may not know who John Paulson is, but you soon will. That puts the Wall Street hedge-fund manager among the top 150 richest Americans.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• FDIC Selling Off Detroit Inventory
  
  So it’s no wonder that it has no time to play nursemaid to a bunch of foreclosed real estate in foreclosure-laden Detroit, Mich. With one in every 176 households receiving a foreclosure filing during July, the Detroit metro area had the 18th highest foreclosure rate among the 230 MSAs reported by RealtyTrac for the month. Reporting 4,781 properties with foreclosure filings for the month, The Federal Deposit Insurance Corp. is having no trouble keeping busy these days.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• A Small Silver Lining in Q1 Foreclosure Storm
  
  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. On the other hand, those exceptions could just turn out to be a source of false hope, perpetuated in part by short-term foreclosure solutions that are about as effective as a five-gallon bailing bucket on the sinking Titanic. The notable exceptions included Detroit — a longtime posterchild for the foreclosure meltdown — and Philadelphia, along with a few other Pennsylvania metro areas.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• MBA Numbers Mirror RealtyTrac Data:
  
  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 percent from July through September. Among subprime borrowers, the rate of delinquencies and foreclosures were much higher, rising to 12.6 percent in the third quarter.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• What's Causing the Credit Crunch?
  
  Skyrocketing foreclosure filings on subprime loans, those made to borrowers with poor credit, have caused huge losses for Wall Street hedge funds and other buyers of securities backed by those mortgages. Meanwhile, nervous lenders have responded by tightening their lending standards, making it more difficult and expensive for real estate investors and homeowners to borrow money, according to new survey conducted by the Federal Reserve in July. A lively debate is ensuing as to why the mortgage industry is unraveling and who’s to blame for the growing credit crunch that is sabotaging the housing industry.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• New Illinois Housing Law Draws 2nd Suit
  
  The suits — filed by eight consumers and the real estate community — seek to halt the implementation of Illinois House Bill 4050, which took effect September 1. "It's a discriminatory law," said Julie Santos, a Chicago Realtor and co-chair of the Coalition to Rescind HB 4050, a group formed from several community organizations who are collecting signatures in an attempt to repeal the law. "If RealtyTrac is monitoring the Illinois law because it could have broader implications for real estate buyers, investors and agents. Two law suits have been filed against a controversial Illinois law that mandates financial counseling for certain consumers obtaining mortgages or refinancing loans in 10 ZIP code areas in Chicago.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Room Enough for a Catnap
  
  In this lackluster real estate market potential homebuyers have been sitting on the fence, observing from the sidelines as the number of foreclosures keeps going up and home prices keep plummeting. A search on RealtyTrac.com this morning for the Lake Elsinore area revealed that 784 properties were in the pre-foreclosure stage of the process, while another 410 properties were set for auction and 1,313 properties have gone back to the lender as REOs. What are they waiting for? Hopefully the right time to pounce on a devastated market, timing the bottom of the market
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Lending Standards Continue to Tighten
  
  The Fed’s July 2008 Senior Loan Officer Opinion Survey , which covered 52 domestic banks and 21 U.S. It’s good that banks are adopting more stringent lending guidelines than the virtually nonexistent ones they employed with the 2005 to 2007 vintage mortgages — which turned out to be highly susceptible to foreclosure. Or is this exactly what the market needs to ensure that home prices stay grounded in the reality of what homebuyers can truly afford? The results of a new survey released today by the Federal Reserve confirms what many people looking to buy or refinance already know — it’s hard to get approved for a loan.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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