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Backlog of Cases Gives a Reprieve on Foreclosures June 19, 2011, New York Times Millions of homeowners in distress are getting some unexpected breathing room — lots of it in some places. In New York State, it would take lenders 62 years at their current pace, the longest time frame in the nation...
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Nevada Leads Country with 70% of Mortgages Underwate r Housing Wire, July 8, 2010 Roughly 70 percent of mortgages on the LendingTree network in Nevada are worth less than what is owed on the loan. LendingTree is an online lender exchange and personal finance resource for consumers. According to LendingTree...
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December Home Sales Down Nearly 17 Percent January 23, 2010, Sales of previously occupied homes took the largest monthly drop in more than 40 years last month, sinking more dramatically than expected after lawmakers gave buyers additional time to use a tax credit. The report reflects a sharp drop in...
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Fannie, Freddie Suspend Foreclosures December 18, 2009, The Associated Press Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures and evictions for about two weeks in a temporary break for borrowers during the holiday season. The suspension, announced Thursday by the government...
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Nearly 70 Percent of LV Homeowners ‘Underwater’ on Mortgage November 30, 2009, Las Vegas Sun Homeowners in the Las Vegas area continue to be punished by dropping prices, with the number underwater in their mortgages surpassing 319,000 or 69.5 percent. That's according to First American...
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With Foreclosures Rising, Why is Housing Market Improving? Christian Science Monitor The US housing market shows signs of progress, even in the face of a rising and record tide of foreclosures. On its face, that sounds incongruous. All those loan defaults, unmowed lawns, and fire-sale auctions of bank...
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Look at Case-Shiller Numbers, by Metro Area Wall Street Journal January 27, 2009 The S&P/Case-Shiller home-price index, a closely watched gauge of U.S. home prices, showed accelerating price declines. Obstacles Delay REO Sales Inman News January 27, 2009 This is the second installment in a two-part...
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When the British rock band The Clash penned their only number-one single “Should I Stay Or Should I Go” in 1981 for their album Combat Rock, they never imaged the song would have serious implications for the 2009 U.S. housing market. Today, many struggling homeowners, drowning under the strain...
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As home prices continue to decline nationwide, many homeowners find themselves with negative equity, owing more on their loans than their houses are worth. Negative equity, or being “underwater,” exposes borrowers to foreclosure because they usually can’t refinance or sell their homes...
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Scanning the Southern California Multiple Listing Service (MLS) last week, the one thing that stands out is the growing number of short sales. Last year, you rarely saw the phrase “short sale” in the MLS property description. Today, approximately 10 percent of the listed properties are short sales. That...