All Posts Tagged With: "courts"
Foreclosure Activity Falls in 2011 — For Wrong Reasons
Foreclosure activity continues to fall when compared with 2010, but the problem is the same as it has been for nearly a year: There are fewer foreclosures because actions against homeowners have stalled. In other words, we don’t have fewer foreclosures because the economy is improving, employment levels are materially rising or household incomes are [...]
15Sep2011 | Peter G. Miller | 1 comment | Continued
Foreclosures: No Mortgage Payments For Years
We keep hearing reports that mortgage foreclosures and delinquencies are down and here’s why: Lenders are plainly not foreclosing once a borrower has missed three monthly payments. So why have foreclosures stalled? The answer is that the process of recording mortgage notes is so screwed up that it’s stopped foreclosure activity worth hundreds of billions [...]
31Aug2011 | Peter G. Miller | 0 comments | Continued
RealtyTrac: Metro Foreclosure Activity Stifled By Paperwork Jam
Foreclosure filings were down 84 percent during the first half of 2011 according to RealtyTrac, a sign that might normally be seen as good news. But as with so much else regarding mortgages and the foreclosure mess, the real story should be cause for concern. RealtyTrac reports that 178 of the nation’s 211 metropolitan areas [...]
28Jul2011 | Peter G. Miller | 0 comments | Continued
Foreclosures Up, Mortgage Delinquencies Steady Say Feds
A new report from the federal government tells us that foreclosures rose in the second quarter while delinquencies fell. A review of 34 million mortgages representing 65 percent of all first-lien mortgages found that “after several quarters of declining performance, the overall credit quality of the portfolio of loans serviced by the largest national banks [...]
28Sep2010 | Caroline H. Tucker | 0 comments | Continued
Can We Undo Botched Mortgage Foreclosures?
Lenders may be on the hook for billions in claims from borrowers who were improperly foreclosed. Several stories in the past few days raise the idea that huge numbers of foreclosures may have been incorrectly processed. This is not a minor glitch or “technicality,” it potentially involves vast armies of people who lost their homes [...]
23Sep2010 | Peter G. Miller | 0 comments | Continued
Foreclosures: Bankruptcies Rise 35%
The court system is reporting a massive rise in bankruptcies, a sure-fire indicator of foreclosure activity. In the 12-month period ending June 30, 2009, there were 1,306,315 bankruptcy cases filed, according to statistics released by the Administrative Office of the U.S. Courts. That’s a 35 percent increase compared to filings for the 12-month period ending [...]
14Aug2009 | Peter G. Miller | 0 comments | Continued
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