While completed foreclosures on residential homes totaled 40,000 for April and have been steadily falling monthly for the last four years, they are still nearly double their pre-recession average per month, according to CoreLogic's April 2015 National Foreclosure Report released Tuesday. Completed foreclosures, which are a measure of homes actually lost to foreclosure, declined by … Continue reading Completed Foreclosures Decline But Remain At Double Pre-Recession Levels
Tag: Bank of America
Representative Waters Asks HUD For More Transparency For Non-Borrowing Spouses on HECMs
U.S. Representative Maxine Waters (D-California) has written a letter to Department of Housing and Urban Development (HUD) Secretary Julián Castro asking for relief and more transparency for seniors participating in HUD's Home Equity Conversion Program (HECM). At the center of the issue is the fate of surviving non-borrowing spouses upon the death of the last … Continue reading Representative Waters Asks HUD For More Transparency For Non-Borrowing Spouses on HECMs
January existing home sales come in flat compared to December
2015 sales expected to pick up where 2014 left off By: Trey Garrison, Housingwire.com Auction.com projects that existing home sales for January will fall between seasonally adjusted annual rates 4.9-5.21 million annual sales, with a targeted number of 5.06 million. This suggests that January sales will be up from one year ago and essentially flat … Continue reading January existing home sales come in flat compared to December
Foreclosures Falling, But Delinquency Rate Climbing
The nation's foreclosure inventory fell to its lowest level in almost seven years in November, but the percentage of delinquent mortgage loans is on the rise, according to Black Knight Financial Services' November 2014 "First Look" at Mortgage Data. Delinquent mortgages, which are those more than 30 days overdue but not in foreclosure, jumped by … Continue reading Foreclosures Falling, But Delinquency Rate Climbing
Freddie Mac’s Mortgage Portfolio Expands For Third Straight Month
November marked another month of expansion for Freddie Mac's mortgage portfolio, which grew again as new business ticked up. According to Freddie Mac's monthly volume summary, released Monday, the company's total portfolio ended November at an estimated $1.9 trillion, up an annualized 0.4 percent. Year-to-date, the portfolio's growth rate is an average -0.7 percent, the … Continue reading Freddie Mac’s Mortgage Portfolio Expands For Third Straight Month
SEC grants Bank of America relief in $16 billion settlement
Ben Lane November 21, 2014 5:04PM The record-setting settlement between Bank of America (BAC), the U.S. Department of Justice, certain federal agencies and six states to resolve claims over toxic residential mortgage-backed securities can finally proceed after the bank was granted relief by the Securities and Exchange Commission. In August, BofA agreed to a $16.65 billion settlement over toxic mortgages, collateralized … Continue reading SEC grants Bank of America relief in $16 billion settlement
Bank Foreclosures Listed Far Below Regional Selling Prices
RealtyStore, a provider of a broad variety of real estate listings, recently released a report outlining average selling prices for bank foreclosures. The company found the median price of bank foreclosures for sale in six select states list at an average of nearly 50 percent below recent median existing-home sale prices. The states—Maryland, Massachusetts, Mississippi, … Continue reading Bank Foreclosures Listed Far Below Regional Selling Prices
America’s homes are bigger than ever
By Les Christie @CNNMoney June 4, 2014: 6:22 PM ET NEW YORK (CNNMoney) America's biggest homes are getting even bigger. The average size of homes built last year hit 2,600 square feet, an all-time high that surpassed even the housing bubble years, when homes averaged around 2,400 square feet, according to the Census Bureau. But … Continue reading America’s homes are bigger than ever
What Sellers should know about the Mortgage Foregiveness Debt Relief Act not being extended
The Mortgage Forgiveness Debt Relief Act applies to homeowners who are NOT insolvent on the date of the sale. The internal revenue code has an existing exclusion of forgiven debt from income when the borrower is insolvent on the date of the sale (IRS Publication 4681). this has been an existing part of the tax … Continue reading What Sellers should know about the Mortgage Foregiveness Debt Relief Act not being extended
Foreclosure and Shadow Inventory Both Decline in February
CoreLogic released its National Foreclosure Report for February, 2014, reporting 43,000 completed foreclosures for the month, a 13.1 percent decrease from January, 2014. Yearly, foreclosures declined 15 percent from February, 2013. Comparatively, foreclosures averaged 21,000 per month before the housing crisis from 2000 to 2006. Since September, 2008, 4.9 million foreclosures have been completed. As … Continue reading Foreclosure and Shadow Inventory Both Decline in February
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