According to a report released this morning by RealtyTrac there were 1,961,894 foreclosure filings in the first six months of 2010 on 1,654,634 housing units in the U.S. This reflects a 5 percent decrease from foreclosure activity for the prior 6 month period but is an 8 percent increase from the same

Continue reading... One in 78 Housing Units In U.S. In Foreclosure In First Half of 2010

1. Foreclosure Activity Drops 3 Percent in May; 15th Consecutive Month of Over 300,000 Foreclosure Actions Dennis Norman The good news is, foreclosure activity for the...
2. Foreclosure Activity Decreases 9 Percent in April RealtyTrac® released its U.S. Foreclosure Market Report™ for April 2010,...
3. U.S. Foreclosure Activity Decreases 10 Percent in January Overall Activity Up 15 Percent From January 2009, REOs Up...

For way too long I’ve been writing about record, or near- record, levels of foreclosures and mortgage delinquencies.   My ongoing concern about this, in terms of the housing market, is that I just don’t see how we are going to have a sustainable recovery of the housing market while we have 1 in

Continue reading... ‘Shadow’ Foreclosure Inventory is the 800 lb Gorilla

1. Foreclosure Activity Drops 3 Percent in May; 15th Consecutive Month of Over 300,000 Foreclosure Actions Dennis Norman The good news is, foreclosure activity for the...
2. Delinquent Home Mortgages 21.3 Percent Higher Than Last Year; Foreclosure Rates at Record High Dennis Norman A report published by Lender Processing Services (LPS)...
3. November Foreclosure Rate in U.S. Up 77 Percent from a year ago Dennis Norman The foreclosure rate in the U.S. for the...

Homeowners’ mortgage delinquency rates increased in May 2.3 percent from April rising to 9.2 percent of all mortgages being delinquent. This information comes from a report issued by LPS Applied Analytics, one of the largest mortgage servicers in the U.S.

According to the report there are, as of May 31, 2010, 7.3 million home

Continue reading... Mortgage Delinquencies Increase In May; 1 in 8 Borrowers At Risk of Losing Home

1. Mortgage delinquencies set new record in third quarter Unemployment Remains Main Cause of Delinquencies The second quarter of...
2. Short sales up 268 percent from a year ago; Serious mortgage delinquencies up 147 percent for same period Dennis Norman By: Dennis Norman Yesterday the Federal Housing Finance...
3. Mortgage Delinquencies Fall in 1st Quarter; First Decline Since 2006 Dennis Norman Consistent with the report on mortgage delinquencies from...

Average discount on Foreclosure and Bank-Owned Homes is 27 Percent

This morning RealtyTrac released a report stating that 31 percent of all residential sales in the first quarter of 2010 were foreclosure homes or bank-owned homes. They are reporting 233,000 foreclosure and bank-owned homes sold during first quarter 2010 at an average price

Continue reading... Nearly 233,000 Foreclosure and Bank-Owned Homes Sold in First Quarter

1. Foreclosure Activity Drops 3 Percent in May; 15th Consecutive Month of Over 300,000 Foreclosure Actions Dennis Norman The good news is, foreclosure activity for the...
2. Foreclosure Activity Decreases 9 Percent in April RealtyTrac® released its U.S. Foreclosure Market Report™ for April 2010,...
3. Forecast predicts 2.8 million homes in foreclosure by year end By: Dennis Norman There just seems to be no end...

According to a report issued by Radar Logic Incorporated government-sponsored enterprises (GSEs) and Federal agencies involved in housing finance currently have an inventory of over 200,000 repossessed homes. Being the largest owner of foreclosed homes in the U.S. gives the government a lot of power and influence over the

Continue reading... Federal Government Is Largest Owner of Foreclosed Properties; Over 200,000 and Growing

1. Is The Government Going to Push Us Into Another Housing Bust? Dennis Norman UPDATE June 21, 2010- I said I would...
2. Fannie Mae offering buyers incentives on HomePath Properties Dennis Norman Fannie Mae is offering 3.5 percent in closing...
3. Owner occupants get first shot at Fannie Mae foreclosures under ‘First Look’ initiative Dennis Norman Fannie Mae just announced their new “First...

I spent this morning reading a sobering and, quite frankly depressing, report issued by the Center for Responsible Lending that focused on the demographics of people losing their homes as a result of foreclosure. The report is done well and looks at the impact of foreclosures on different races and ethnicity’s and

Continue reading... Two and a half Million Foreclosures; Just the beginning

1. Forecast predicts 2.8 million homes in foreclosure by year end By: Dennis Norman There just seems to be no end...
2. Not Out Of The Woods Yet; Mortgage Delinquences and Foreclosures On The Rise 1st Quarter Delinquencies; Up? Down? He said – She Said…...
3. $1.4 Trillion in Commercial Loans Coming Due – Nearly Half Are Underwater Dennis Norman Commercial Real Estate to be the next...

The good news is, foreclosure activity for the U.S. in May decreased by 3 percent according to a report released by RealtyTrac. The bad news is, May marked the 15 th consecutive month where the overall foreclosure activity has surpassed 300,000 actions; that’s about 4 million foreclosures in the past 15 months.

For

Continue reading... Foreclosure Activity Drops 3 Percent in May; 15th Consecutive Month of Over 300,000 Foreclosure Actions

1. Foreclosure Activity Decreases 9 Percent in April RealtyTrac® released its U.S. Foreclosure Market Report™ for April 2010,...
2. U.S. Foreclosure Activity Decreases 10 Percent in January Overall Activity Up 15 Percent From January 2009, REOs Up...
3. Foreclosures continue to increase; up 23 percent from a year ago Dennis Norman By: Dennis Norman Unfortunately the bad news on...

According to data from NeighborWorks America, a national nonprofit organization created by Congress to provide community-based

Continue reading... Loan Modification Scams On the Rise

1. Update on Fed’s Foreclosure Prevention and Loan Modification Programs Dennis Norman Today the Federal Housing Finance Agency released...
2. Obama Administration HAMP Loan Modification Program Falling Short Dennis Norman The Treasury Department Plans to Spend $50 Billion...
3. Over 360,000 borrowers have taken advantage of Fed’s Loan Modification Program Dennis Norman By: Dennis Norman Earlier this week the...

Back in January I did a post about FHA’s decision to temporarily (until February 1, 2011 if not revoked earlier) waive their “anti-flipping” rule, thereby allowing homes to be resold with FHA-insured financing even if the sale took place within 90 days of the selling acquiring the property. There were, of course,

Continue reading... FHA Looking For Input On Anti-Flipping Rule Waiver Conditions

1. FHA Waives Anti-Flipping Rule Dennis Norman In an effort to “stabilize home values and...
2. California REALTORS Push Legislation To Extend Anti-Deficiency Protection for Homeowners Dennis Norman California typically marches to the beat of it’s...
3. Help for homeowners facing foreclosure or are underwater Dennis Norman Back in early December I did a post...

Continue reading... Fannie Mae Issues Guidelines For HAFA Short-Sales and Deed-in-Lieu

1. Can your buyers obtain a mortgage if they have done a short sale or deed-in-lieu? Dennis Norman No doubt over the next couple of years...
2. Home Affordable Foreclosure Alternatives Program (HAFA) Launched Dennis Norman Last week the Treasury Department announced the Home...
3. Help for homeowners facing foreclosure or are underwater Dennis Norman Back in early December I did a post...