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51 Articles match "Real Estate","Subprime","Trends"
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High-End Foreclosures Rising Among Top Tier Homes
High-End Foreclosures Rising Among Top Tier Homes By Octavio Nuiry, RealtyTrac Staff Writer Until now, the foreclosure crisis was confined to a narrow niche of middle-class urban communities and outer-rim new housing developments where first-time homeowners and real estate speculators benefited briefly from favorable financing. 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
www.realtytrac.com
- Tuesday, February 3, 2009
As Home Prices Plummet, When Will You Buy?
Does this make it a good time to buy real estate? have access to credit have fat cash reserves aren't already over-exposed in real estate have a secure job or income stream expect to hold the property for at least two years" But be forewarned, prices are expected to fall further, and will take awhile to rebound, according to many economists. "I Now, in 2009, or will you wait until 2020 when everyone has forgotten about this housing slump and is raving about skyrocketing home prices? Home prices in 20 of the nation's major metro areas in July were collectively down 16.3
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Stumbling Subprimes Spell Opportunity
The subprime mortgage industry is stumbling under a heavy burden of defaults, watching profits dwindle as lenders are forced to buy back loans that have turned sour. Wells Fargo, the biggest originator of subprime loans, according to National Mortgage News , announced this week that they would be cutting 320 jobs in their subprime mortgage division because of tighter lending standards. Those people This bottom-line reality is forcing many lenders to tighten their lending requirements. The tightened lending standards, coupled with stagnant home price appreciation, leaves
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Study Forecasts Rising Subprime Foreclosures
A new study released yesterday by the Center for Responsible Lending projects that one out of five subprime mortgages originated in the past two years will end in foreclosure, costing homeowners as much as $164 billion. “This rate is nearly double the projected rate of subprime loans made in 2002, and it exceeds the worst foreclosure experience in the modern mortgage market, which occurred during the “Oil Patch” disaster of the 1980s. The study, which cites RealtyTrac numbers as one of its sources, looked at subprime foreclosure rates from 1998 through 2006 and closely ties
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Defaults Drive Subprime Lending Restraint
Signs of self-imposed restraint on lending guidelines showed up this week in a somewhat surprising corner of the industry: the subprime market. Reuters reported yesterday that Fremont Investment and Loan, the nations fifth-biggest originator of subprime loans last year, was able to lower its early default rate from nearly 6 percent in mid-2006 to 3 percent through measures that included cutting ties with about 8,000 brokers whose loans were identified as contributing to the lender’s high default rate Fremont also cut down on the number of so-called stated income loans, which allow
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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Subprime meltdown means jump in foreclosures
subprime mortgage market after the bankruptcy of at least 20 lenders in the last two months, triggering a mass liquidation of securities on Wall Street and an avalanche of foreclosure activity on Main Street. Growing trouble in the subprime mortgage industry could not come at a worse time for the battered housing sector, which has been in a yearlong tailspin of stagnant sales, rising inventories, plunging prices and growing defaults. Panic is spreading in the U.S. As more lenders go bankrupt and more Americans default on home loans, a jump in foreclosures is expected.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Subprime Market Sinking Further Into the Abyss
The latest developments in the subprime lending market should have the entire real estate industry up in arms (figuratively and literally). Now the problem has dug down to the very roots of the lending industry and is shaking loose some of the largest subprime lenders, who are now falling into the abyss. The Orange County Business Journal reported Monday that Wall Street analysts are now predicting possible The problem has gone far beyond the $1 trillion worth of so-called “exotic” adjustable rate loans resetting in each of the next two years. Borrowers began feeling
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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"Subprime" voted 2007 Word of the Year
The American Dialect Society has chosen subprime as the word of the year for 2007, reflecting a “preoccupation of the press and public for the past year with the deepening mortgage crisis.” The society defines subprime as “an adjective used to describe a risky or less than ideal loan, mortgage or investment.” The preoccupation with the subprime loan fallout also prompted the society Other real estate words nominated for voting were “exploding ARM,” “liar’s loan” and “NINJA” (No Income, No Job or Assets). Words from other categories that received votes for
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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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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Foreclosure's Fallout, 2 Titans Tumble
Every time Wall Street executives and economists think they have acknowledged the full extent of the subprime mortgage meltdown in the residential real estate sector, more bad news is uncovered. Last week, Citigroup’s chief executive Charles Prince tendered his resignation — another casualty of the growing subprime fiasco. billion loss in the subprime Prior to Prince’s departure, Citigroup said that it would take additional write-downs of $8 billion to $11 billion in the fourth quarter, a large and unexpected loss that could wipe out the period’s entire profit. Citigroup’s
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Fairy Tales Don't Always Come True
Organized real estate was begging for it. And the fiasco in the subprime market is wreaking havoc and not making the situation any less stressful either. Bernanke is standing firm to his real world approach for interest rate adjustments. Thursday’s opening, however, was lower, due in part to higher oil prices and concerns about the subprime Wall Street was fantasizing about it. Industry analysts are still predicting that it’s going to happen, they just don’t know when.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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