All Posts Tagged With: "Foreclosures"
Is Negative Interest Coming To America?
“You’re money is no good here” used to mean someone was picking up your tab at a restaurant or country club. It was a gracious gesture, a courtesy and a compliment. Today the term means the world is awash in so much cash that really — we don’t want your money — especially if your [...]
22Aug2011 | Peter G. Miller | 0 comments | Continued
Vets Get $22 Million to Settle Mortgage Foreclosure Claims
Two national mortgage lenders will pay more than $22 million to settle claims under the Servicemembers Civil Relief Act (SCRA) that they allegedly violated a law meant to insulate military members from illegal foreclosure, according to the Department of Justice. A Bank of America subsidiary improperly foreclosed on about 160 service members from January 2006 [...]
15Jun2011 | Chris Birk | 0 comments | Continued
Are ARM mortgage interest rates about to rise?
The Consumer Financial Protection Bureau has come out with a new approach to mortgage financing, good faith estimate forms (GFEs) that are supposed to be better than the form introduced by HUD in 2010. This is important stuff for three reasons: First, HUD estimates that the 2010 GFE saves borrowers $700 per loan. Second, when [...]
31May2011 | Peter G. Miller | 0 comments | Continued
Robo-signing scandal leads to 27% foreclosure drop in 1st quarter
Foreclosure activity continued to fall, with filings dropping 27 percent in the first quarter when compared with a year earlier according to RealtyTrac. RealtyTrac said that first quarter foreclosure filings — default notices, scheduled auctions and bank repossessions — impacted 681,153 U.S. properties. The report also shows one in every 191 U.S. housing units nationwide [...]
14Apr2011 | Peter G. Miller | 0 comments | Continued
4 States Consider Use Of Faked Appraisals
It’s amazing. If you don’t like appraisal results, if you want home prices to be higher, then just change appraisal rules. That’s the theory behind a new legislative drive now taking place in several states. The Appraisal Institute reports that “four states — Illinois, Maryland, Missouri and Nevada — are considering legislation that would prohibit [...]
31Mar2011 | Peter G. Miller | 13 comments | Continued
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
Real Estate Seer: Renting In, Mortgages & Foreclosures Out
In the decades since World War II real estate prices rose with enormous consistency but now the oomph is gone. Most people are better off renting than owning, says Patrick Killelea. For him, and for millions of others, the path to financial security no longer includes real estate ownership, mortgages or the possibility of foreclosure. [...]
15Feb2011 | Peter G. Miller | 10 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
Can I Get A Foreclosure Mortgage?
If you’re interested in buying foreclosed real estate there are mortgages out there for you. In fact, a possible source of a foreclosure mortgage is the very lender selling the foreclosed property. In terms of financing, real estate is real estate. The fact that it’s a foreclosure, distressed property or home for sale under normal [...]
21Jan2011 | 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
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