money.cnn.com - 8/6/2009
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NEW YORK (CNNMoney.com) -- You've heard of speed dating? It's got nothin' on foreclosure buying these days. In many places, anyone who wants to buy a foreclosure better act fast, or they're going to come away with bupkus. REOs, the industry term for homes repossessed by lenders and put back on ...
mortgage.freedomblogging.com - 8/6/2009
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mortgage.freedomblogging.com —
(Update: More explanation on second-wave theory.) There is
no second foreclosure wave coming, says Sam Khater, senior...
economist, First American CoreLogic. “To say there is a second wave implies the (current) wave has receded,” Khater told ...
(more)
Foreclosure wave gathers momentum
bloomberg.com - 8/13/2009
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bloomberg.com —
Aug. 13 (Bloomberg) -- Foreclosure filings in the
U.S. climbed to a record for the third time...
in five months in July as falling home prices and the recession left more homeowners unable to keep up payments or refinance. A total of 360,149 properties ...
(more)
U.S. Foreclosure Filings Set Third Record-High in Five ...
chicagotribune.com - 8/14/2009
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chicagotribune.com —
A recently enacted state law designed to give
homeowners more time to fix their troubled mortgages has...
delayed but not derailed foreclosure actions in Illinois, say two reports to be released Thursday. Initial notices of default, the first legal step ...
(more)
Foreclosure actions delayed in spring move into system ...
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Blog Reactions
Ten for Thursday
The Big Picture —
... links for your reading pleasure
• Behind BofA’s Silence on Merrill (WSJ)
• Goldman’s 42 $100MM+ Trading Days In Q2 - An Absolute, Unprecedented Record; Just Two Days Of Trading Losses (ZeroHedge) see also Despite Bailouts, Business as Usual at Goldman (NYT)
• Berkshire May Post ‘Blockbuster’ Results by Buffett’s Measure (Bloomberg)
• What is The Fair Mortgage Collaborative ? (TBP)
• Buy foreclosures now - before it’s too late (CNN/Money)
• ...
Friday morning links
The Mess That Greenspan Made —
... over - Telegraph Redesigning Europe's biggest economy: Unbalanced Germany - Economist China Faces Delicate Task of Reining in Bank Lending - NY Times Uganda's oil rush: Derricks in the darkness - Economist Bank of England appears blind to the economic springtime - Telegraph Britain's energy crisis: How long till the lights go out? - Economist REAL ESTATE Foreclosure wave gathers momentum - O.C. Register Buy foreclosures now - before it's too late - CNN/Money How 40,000 Homes are by Banks ...
Nine Notes on Residential Real Estate
The Aleph Blog —
... upside-down in a sale due to closing costs. The inflection point in mortgagee behavior occurs between 90-100% LTVs, not at 100%+.
That’s why we are in such deep trouble. With 32% of all mortgages inverted, there will be many more foreclosures, and prices should still head downward, even on the low end.
5) But maybe things aren’t so bad, at least on the low end.
Home inventories fell in July.
In some markets, on the low end, foreclosures are selling fast.
New home sales increased in June ...
Related Content
How To Avoid Foreclosure
livingoffdividends.com 5/31/2009 — You must have read the recent post about the New York Times economics reporter who is facing foreclosure himself. Edmund Andrews covered the US economy and Alan Greenspan for over six years, but despite his financial accumen still got suckered into a ...
I Am Facing Foreclosure
iamfacingforeclosure.com 10/2/2009 — IAFF was designed for homeowners to access information and educate themselves about foreclosure and other financial challenges during these difficult economic times. We have researched different subjects, aligned ourselves with the industry’s best ...
12 pct. are behind on mortgage or in foreclosure
(AP)
news.yahoo.com 5/28/2009 — AP - A record 12 percent of homeowners with a mortgage are behind on their payments or in foreclosure as the housing crisis spreads to borrowers with good credit. And the wave of foreclosures isn't expected to crest until the end of next year, the ...
Foreclosure is the ‘cure’
mortgage.freedomblogging.com 6/10/2009 — Should tax dollars be spent helping people avoid losing their home to a bank?
A study I blogged on last week found borrowers who lost their home to foreclosure in November 2006, 2007 and 2008 often had cashed-out all their equity. The data for the ...
12% in Foreclosure or Delinquent
ritholtz.com 3/6/2009 — Wow, how is that for a data point?
About 5.4 million American homeowners with a mortgage (~12%) were either behind in their payments or already in foreclosure at the end of 2008, according to the Mortgage Bankers Association.
That’s about ...
RealtyTrac: Record Foreclosure Activity in April
calculatedriskblog.com 5/13/2009 — From RealtyTrac: Foreclosure Activity Remains at Record Levels in April RealtyTrac ... today released its April 2009 U.S. Foreclosure Market Report(TM), which shows foreclosure filings - default notices, auction sale notices and bank repossessions - were reported on 342,038 U.S. properties ...
U.S. FORECLOSURE ACTIVITY INCREASES 5 PERCENT IN Q3
realtytrac.com 10/15/2009 — By RealtyTrac Staff U.S. Foreclosure Activity Sets New Quarterly Record, Up 23 Percent From Q3 2008 IRVINE , Calif. – Oct. 15, 2009 — RealtyTrac® ( realtytrac.com ), the leading online marketplace for foreclosure properties, today released its U.S. ...
More Evidence of the "Foreclosure Backlog"
calculatedriskblog.com 7/8/2009 — From Peter Hong at the LA Times: L.A. County's May default rate double last year May's 9.5% [seriously] delinquency rate [more than 90 days] for L.A. County was up from 5% of mortgages ... in May 2008 [First American CoreLogic reported today]. ... ...
Gov’t Foreclosure Program: Who Are The Holdouts?
onthehillblog.blogspot.com 7/10/2009 — Most of the biggest mortgage servicers in the country have signed up for the government’s foreclosure program, helping it cover what the Treasury Department says is more than 80 percent of home loans. The program pays participating servicers to modify loans.
Foreclosure Truth
foreclosuretruth.com 14 days ago — I’ve talked in the past about some of the approaches to rescuing the housing market and providing economic stimulus, such as the Treasury Department lowering mortgage interest rates , the California Foreclosure Prevention Act , the Countrywide ...
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