Shari Olefson, author of “Foreclosure Nation”, tells CNBC that the biggest problem in the US is still inventory but some of those foreclosures are starting to work through the system.
Video: http://tinyurl.com/pj8ru2p
Tag Archives: foreclosures
14 American Housing Markets Struggling With Foreclosures
One in every 905 U.S. homes received a foreclosure filing in April, according to the latest foreclosure data from RealtyTrac.
Foreclosure filings were down 5% from March, and 23% from a year ago.
Read more: http://tinyurl.com/csrlwy6
Foreclosure Crisis Still Has Millions in Its Grip
Five years after the mortgage meltdown sparked a wave of home foreclosures, millions of Americans are still in housing “limbo,” battling to save their homes despite government programs meant to help them.
Read more: http://www.cnbc.com/id/100722965
Foreclosure activity reaches 6-year low
Foreclosure activity in April fell to its lowest level in 74 months, but action is ramping up in some states, says a national foreclosure tracker.
In April, one of every 905 U.S. housing units received a foreclosure filing, market watcher RealtyTrac says. That was the lowest level since February 2007 — near the beginning of the nation’s foreclosure crisis — and down 23% from a year ago.
Read more: http://tinyurl.com/brw7hr6
Experts Warn About An ‘Outbreak Of Delayed Foreclosures Down The Road’
In March, 152,500 properties received a foreclosure filing in March. This is according to RealtyTrac’s latest report. This was down 1 percent from February and down 23 percent from a year ago.
But foreclosure starts – the pace at which mortgages enter the foreclosure process – were up 2 percent on the month to 71,113.
Read more: http://tinyurl.com/chwqwyn
New US Foreclosure Filings Rise in February: RealtyTrac
More U.S. homeowners were hit with new foreclosure filings in February, pointing to the challenges the market still faces even as the housing recovery gains traction, data from RealtyTrac showed on Thursday.
Read more: http://www.cnbc.com/id/100552105
Best places to buy foreclosures
Shoppers willing to buy homes sold in foreclosures or short sales are nabbing them at deep discounts, especially if they know where to look.
Nationwide, the average discount on homes sold in a foreclosure was 39% below conventional sale prices during the fourth quarter, while prices on homes sold in a short sale averaged 23% below market, according to RealtyTrac, the online marketer of foreclosed properties.
Read more: http://tinyurl.com/bsfzs6t
‘We don’t want … low-ball offers’: CMHC firm on hiding foreclosure information from buyers
Canada Mortgage and Housing Corp. is making no apologies over its tactic of not disclosing a house has been repossessed when it puts the home back on the market.
The Crown corporation says it is acting like any other seller — just trying to get the best offer it can. Critics charge CMHC should disclose more information, given its role as Canada’s national housing agency.
Read more: http://tinyurl.com/d3zhd3o
They Bailed On Their Homes – Now They Want Back In
A new survey of past clients by www.YouWalkAway.com, a website that assists borrowers in the legal pitfalls of strategic default, found that nearly 80 percent expressed a desire to buy a home again within the next twelve months. It also cites data by Moody’s analytics, showing that the number of eligible home buyers who have had a previous foreclosure will be 1.5 million by the first quarter of 2014.
Read more: http://www.cnbc.com/id/100485159
Zombie foreclosures: Borrowers hit with debts that won’t die
Borrowers are discovering that their foreclosed homes are coming back to haunt them — long after they have moved out.
Read more: http://tinyurl.com/anapdvb