All Posts Tagged With: "2010"
Foreclosure discount grows: RealtyTrac
Foreclosure sales continue to hold down prices nationwide, even though filings have declined. The latest numbers from RealtyTrac (www.realtytrac.com) show that foreclosed homes accounted for nearly 26 percent of all U.S. residential home sales last year. Typical prices for such distressed properties were 28 percent below the average sales price of properties not in the foreclosure [...]
24Feb2011 | Peter G. Miller | 0 comments | Continued
Robo-signing scandal slows mortgage loan foreclosures
For the third time in three months foreclosure filings fell below the 300,000 mark. While this may sound like good news, it’s actually a by-product of the ongoing robo-signing scandal. “We’ve now seen three straight months with fewer than 300,000 properties receiving foreclosure filings, following 20 straight months where the total exceeded 300,000,” said James [...]
10Feb2011 | Peter G. Miller | 0 comments | Continued
2.9 million properties faced foreclosure in 2010, new record says RealtyTrac
To paraphrase Charles Dickens, it was the worst of times, it was, well, it really was the worst of times. Figures from RealtyTrac show that 2,871,891 U.S. properties received foreclose filings in 2010, a record and an increase of nearly 2 percent from 2009 and up 23 percent when compared with 2008. The final figures [...]
13Jan2011 | Peter G. Miller | 0 comments | Continued
US home values fall $9 trillion since 2006, says Zillow
American real estate, a traditional bastion of household wealth for the middle class, has lost $9 trillion in equity since 2006 according to the real estate marketing site Zillow.com. Zillow reports that US homeowners lost $1 trillion in 2009 and it expects that losses will total $1.7 trillion in 2010. Specifically, Zillow estimates that values [...]
9Dec2010 | Peter G. Miller | 0 comments | Continued
Foreclosure discount now 32% — have home values hit bottom?
Foreclosed properties now represent 25 percent of all home sales nationwide, properties which are selling at a 32-percent discount according to the latest report from RealtyTrac. The problem represented by distressed properties is that they hold down the values of nearby homes. If a house down the street is selling for a third off, or [...]
2Dec2010 | Peter G. Miller | 0 comments | Continued
Foreclosure robo scandal may impact millions of mortgages
At first robo-signing seemed to be just a problem for courts and lawyers — in few situations would foreclosures be reversed. But now the Congressional Oversight Committee says the damage may be far greater than first believed and could impact millions of mortgages as well as mortgage-backed securities worth trillions of dollars. “In the best-case [...]
16Nov2010 | Peter G. Miller | 1 comment | Continued
Mortgage Loan Limits — Conventional, FHA, VA
The high mortgage loan limits and policies started during the foreclosure worries of 2008 will continue through 2011. Note: This material is now out of date. Please go to: FHA Loan Limits Rise, Conventional & VA Mortgage Limits Stick. There are several types of mortgage loan limits. Generally, most borrowers need to look at conventional, [...]
15Nov2010 | Peter G. Miller | 1 comment | Continued
August Foreclosure Levels Top 300,000 for 18th Month In A Row
Foreclosures held relatively steady in August, according to the latest monthly report by RealtyTrac (www.realtytrac.com). The company’s report for August 2010 shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 338,836 properties in August, a 4 percent increase from the previous month but a 5 percent decrease from August [...]
16Sep2010 | Peter G. Miller | 0 comments | Continued
First-Time Home Buyer Credit Still On For Vets
While the tax credit for first-time home buyers and sellers largely ended in April, the credit actually continues for active-duty military personnel until April 30, 2011, something that could be important for VA loan borrowers and veteran sellers. The $8,000 tax credit (along with its $6,500 companion credit for existing homeowners) spurred an uptick in [...]
3Jun2010 | Chris Birk | 1 comment | Continued
Mortgage Originations Tumble In 2010 First Quarter
Mortgage originations continue to decline, falling 28% in the first quarter of 2010 when compared with a year earlier, according to MortgageDaily.com. Among the biggest lenders, the site reported that “MetLife Inc’s 41% decline was the biggest of the lenders analyzed, moving it out of the top-10 club. Also losing its top-10 title was Flagstar [...]
6May2010 | Peter G. Miller | 0 comments | Continued
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