Foreclosure Activity Edges Higher in January
Foreclosure Activity Edges Higher in January
By Alex Veiga, Associated Press, Feb 16, 2012
Banks took back more U.S. homes in January than in the previous month, the latest sign that foreclosures are accelerating after slowing sharply last year while lenders sorted out foreclosure-abuse claims. Foreclosures rose 8 percent nationally last month from December, but were down 15 percent from a year earlier, foreclosure listing firm RealtyTrac said Thursday. Also see Washington Post, Chicago Tribune, CNN, and Bloomberg.
MBA: Mortgage Delinquencies Decline in Q4
By Les Christie, CNNMoney, Feb 16, 2012
The MBA reported that 11.96 percent of mortgage loans were either one payment delinquent or in the foreclosure process in Q4 2011 (delinquencies seasonally adjusted). This is down from 12.41 percent in Q3 2011 and is the lowest level since 2008.
Mom and Pop Investors Propping Up Home-Buying Market
By Julie Schmit, USA TODAY, Feb 16, 2012
Chicagoans Linda and Debra Basili thought about becoming landlords years ago. But even two professional women's combined salaries were no match for the Windy City's high housing prices. Then the biggest real estate crash since the Great Depression hit, driving down Chicago home prices by a third in five years. The 54-year-old twins took the leap.
Foreclosed: Beverly Hills-Style
By Tim Reid, Reuters, Feb 16, 2012
A sprawling, Spanish-style estate, fringed by majestic pine trees and located near the boutiques of Santa Monica Boulevard, its former owners were served with a default notice in 2010; they were $205,000 behind in their payments on mortgages totaling $6.9 million. Welcome to foreclosure Beverly Hills-style.
California Audit Finds Broad Irregularities in Foreclosures
By Associated Press, Feb 15, 2012
An audit by San Francisco c6unty officials of about 400 recent foreclosures there determined that almost all involved either legal violations or suspicious documentation, according to a report released Wednesday. Commissioned by Phil Ting, the San Francisco assessor-recorder, the report examined files of properties subject to foreclosure sales in the county from January 2009 to November 2011. About 84 percent of the files contained what appear to be clear violations of law, it said, and fully two-thirds had at least four violations or irregularities.
Time to Buy in Florida…Carefully
By Mike Morgan, Barrons, Feb 11, 2012
Is the Florida housing hurricane starting to blow itself out? Yes and no. It depends upon area, demographics, age of properties, levels of tourism, commerce and industry, as well as dozens of other issues that most buyer-owners and investors never bother to consider.