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This morning, RealtyTrac released their U.S. Foreclosure Market Report for April 2012 which shows that foreclosure filings (default notices, scheduled auctions and bank repossessions) we’re reported on 188,780 properties in the U.S. during the month, a 5 percent decrease from the previous month and a decrease of 14 percent from April 2011 and is Continue reading… U.S. Foreclosure activity decreasing in the west and on the rise in the midwest and east An Austin, Texas, man was sentenced today in the Western District of Texas to 61 months in prison and was ordered to forfeit $84,010 for his role in operating a foreclosure-rescue scam in Southern California and elsewhere that charged distressed homeowners fees in exchange for fraudulently delaying foreclosure sales. Clear Capital just released it’s Home Data Index™ (HDI) for April, which reveals that REO’s, which have been a drag on the market for several years now by bringing home prices down, are actually help bolster prices as a result of investor demand for REO’s for rentals. REO home price gains (on a price Continue reading… REO’s bolstering home prices; REO home price gains outpacing fair market prices An Alabama real estate investor has agreed to plead guilty and to serve prison time for his role in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in southern Alabama, the Department of Justice announced today. To date, as a result of the ongoing investigation, three individuals and one This morning, RealtyTrac released their U.S. Foreclosure Market Report for the first quarter of 2012 which shows that foreclosure filings (default notices, scheduled auctions and bank repossessions) we’re reported on 572,928 properties in the U.S. during the quarter, a 2 percent decrease from the previous quarter and a decrease of 16 percent from the Continue reading… Foreclosure activity falls to lowest level since 2007 Foreclosure starts and foreclosure sales were down in February 15 and 19 percent respectively from January according to the latest Mortgage Monitor report released by Lender Processing Services, Inc. today. The report also showed that mortgage delinquencies continue to decline as well with 7.57 percent of the homes in the U.S. with a mortgage being Continue reading… Foreclosures and mortgage delinquencies drop in February; good news for the real estate market The U.S. foreclosure rate in February was 3.4 percent of all homes with a mortgage, the same rate as the month before and down slightly from a year before when the rate was 3.6 percent. The U.S. mortgage delinquency rate in February was 7.3 percent, up slightly from the month before when the Continue reading… Lower Foreclosure Rates than a Year Ago for Sixty-One of the Top 100 Major Markets The U.S. mortgage loan delinquency rate was 7.57 percent of all home loans in February, down 5.0 percent from the month before and down 14.0 percent from a year ago, according to the “First-Look” report issued by Lender Processing Services, one of the countries largest loan servicers and aggregators of loan performance data. The foreclosure Continue reading… Mortgage delinquencies continue to decline; good news for the real estate market! A report released this morning by CoreLogic shows that the current residential “shadow” inventory as of January 2012 was 1.6 million units, equivalent to a 6-months’ supply, and approximately the same level last reported in October 2011. The shadow inventory is down from a year ago though, when it was at 1.8 million units, or Continue reading… Report shows For Every Two Homes Available for Sale, There Is One in the "Shadow" This morning, RealtyTrac released their U.S. Foreclosure Market Report for February 2012 which shows that foreclosure filings (default notices, scheduled auctions and bank repossessions) we’re reported on 206,900 properties in the U.S. during the month, a 2 percent decrease from the previous month and a decrease of 8 percent from the year before. During Continue reading… Foreclosure report shows mixed signals; rate down in U.S. but half of large metros up from a year ago The Justice Department, the Department of Housing and Urban Development (HUD) and 49 state attorneys general announced today the filing of their landmark $25 billion agreement with the nation’s five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses. Last week, Wiley C. Chandler, plead guilty to one count of participating in a conspiracy to suppress and restrain competition by rigging bids to obtain selected properties at nonjudicial public real estate foreclosure auctions in San Joaquin County, California. According to the plea agreement, from a period of about September 2008 until about October 2009, Continue reading… Real estate investor pleads guilty to bid rigging at foreclosure auctions This morning, RealtyTrac released their U.S. Foreclosure Market Report for fourth quarter 2011 which showed that pre-foreclosure and REO home sales accounted for nearly one of every 4 home sales (24 percent) during the quarter which is an increase from 20 percent in the prior quarter, however down from 26 percent in the fourth quarter Continue reading… Top Ten Cities to Buy REO’s and Pre-Foreclosures SACRAMENTO, Calif. — A real estate investor pleaded guilty today in U.S. District Court in Sacramento to conspiring to rig bids and commit mail fraud at public real estate foreclosure auctions held in San Joaquin County, Calif., Sharis A. Pozen, Acting Assistant Attorney General of the Department of Justice’s Antitrust Division, and Benjamin B. Wagner, Continue reading… CALIFORNIA INVESTOR PLEADS GUILTY TO BID RIGGING AND FRAUD AT PUBLIC REAL ESTATE FORECLOSURE AUCTIONS This morning, RealtyTrac released their U.S. Foreclosure Market Report for January 2012 which shows that foreclosure filings (default notices, scheduled auctions and bank repossessions) we’re reported on 210,941 properties in the U.S. during the month, a three percent increase from the previous month and a decrease of 19 percent from the year before. During Continue reading… Foreclosure activity increases in January; down from a year ago though Last November I wrote about how victims of wrongful foreclosure could apply for an independent review of their file and possibly receive compensation under a new presented by acting Comptroller of the Currency, John Walsh. The deadline to apply for this was to be April 30, 2012, however, today, the Office of the Comptroller Continue reading… Victims of bad foreclosure practices get more time to apply for review and possible compensation Investigation Has Yielded 20 Plea Agreements to Date WASHINGTON — Three Northern California real estate investors have agreed to plead guilty today for their roles in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions in Northern California, the Department of Justice announced. To date, as a result of the Continue reading… Three Northern California Real Estate Investors Agree To Plead Guilty To Bid Rigging At Public Foreclosure Auctions 1.4 Million Homes in the Foreclosure Inventory at the End of 2011 According to a report just released by CoreLogic, there were 830,000 foreclosures completed during the year in 2011, a 24 percent decrease from 2010 when there were 1.1 million. For the month of December, there were 55,000 foreclosures, down 3.5 percent from November when Continue reading… Foreclosures in 2011 down 24 percent from 2010 $25 Billion Agreement Provides Homeowner Relief & New Protections, Stops Abuses WASHINGTON – U.S. Attorney General Eric Holder, Department of Housing and Urban Development (HUD) Secretary Shaun Donovan, Iowa Attorney General Tom Miller and Colorado Attorney General John W. Suthers announced today that the federal government and 49 state attorneys general have reached a landmark $25 Ninth Guilty Plea in the Investigation to Date SACRAMENTO, Calif. — A real estate investor pleaded guilty today in U.S. District Court in Sacramento to conspiring to rig bids and commit mail fraud at public real estate foreclosure auctions held in San Joaquin County, Calif., Sharis A. Pozen, Acting Assistant Attorney General of the Department of Continue reading… California Investor Pleads Guilty To Bid Rigging And Fraud At Public Real Estate Foreclosure Auctions Foreclosure Price 34 Percent Below Average Price of Non-Foreclosures RealtyTrac, today released its third-quarter 2011 U.S. Foreclosure Sales Report, which shows that sales of homes that were in some stage of foreclosure or bank owned accounted for 20 percent of all U.S. residential sales in the third quarter of 2011, down from 22 percent of all Continue reading… One in five home sales is a foreclosure and only two-thirds the cost of a non-foreclosure home This morning, RealtyTrac released their 2011 year-end U.S. Foreclosure Market Report which shows that 2,698,967 foreclosure filings (default notices, scheduled auctions and bank repossessions) we’re reported on 1,887,777 properties in the U.S. during the year, a decrease of 34 percent from the year before and marking the lowest level since 2007! Defendant Collected $1.6 Million from 1,100 Distressed Homeowners WASHINGTON – An Austin, Texas, man pleaded guilty today in the Western District of Texas for his role in operating a foreclosure-rescue scam in Southern California and elsewhere that charged distressed homeowners fees in exchange for fraudulently postponing foreclosure sales. The U.S. mortgage loan delinquency rate was 8.15 percent of all home loans in November, up 2.7 percent from the month before and down 9.6 percent from a year ago, according to the “First-Look” report issued by Lender Processing Services, one of the countries largest loan servicers and aggregators of loan performance data. The Continue reading… Mortgage delinquencies increase in November; Foreclosures decline from month before The U.S. District Court in Sacramento unsealed an indictment this past Tuesday against four real estate investors and an auctioneer for their participation in conspiracies to rig bids and commit mail fraud at public real estate foreclosure auctions held in San Joaquin County, Calif., Sharis A. Pozen, Acting Assistant Attorney General of the Department of Justice’s Antitrust Division, and Benjamin B. Wagner, U.S. Attorney for the Eastern District of California, announced. This morning, RealtyTrac released their U.S. Foreclosure Market Report for October 2011 which shows that foreclosure filings (default notices, scheduled auctions and bank repossessions) we’re reported on 224,394 properties in the U.S. during the month, a three percent increase from the previous month and a decrease of 14 percent from the year before. Continue reading… Foreclosures decrease in November WASHINGTON – Lisa Wright, 46, and Cathy Saffer, 52, of Pompano Beach, Fla., were charged today with a conspiracy to defraud homeowners and banks in a foreclosure rescue scheme, announced the Department of Justice. Also charged was Barrington Coombs, 57, a certified public accountant of Weston, Fla., who participated Continue reading… Three Charged with Fraud in Florida Foreclosure Rescue Scheme WASHINGTON – A Mobile, Ala., real estate investor has agreed to plead guilty today for his role in a conspiracy to rig bids and commit mail fraud at public real estate foreclosure auctions in southern Alabama, the Department of Justice announced. The U.S. mortgage loan delinquency rate was 7.93 percent of all home loans in October, down 2.0 percent from the month before and down a whopping 14.6 percent from a year ago, according to the “First-Look” report issued by Lender Processing Services, one of the countries largest loan servicers and aggregators of loan performance data. Continue reading… Mortgage delinquencies decline in October; Foreclosures on the rise This morning, RealtyTrac released their U.S. Foreclosure Market Report for October 2011 which shows that foreclosure filings (default notices, scheduled auctions and bank repossessions) we’re reported on 230,678 properties in the U.S. during the month, a seven percent increase from the previous month but a decrease of nearly 31 percent from the Continue reading… Foreclosures drop in September; Down over 30 percent from year ago |
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