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RealtyTrac: Foreclosure Activity May Hit 1.8 Million by Mid-Year
Calculated Risk — Note: Foreclosure "activity" is defined as Notice of Default (NODs), scheduled auctions and bank repossessions. A large number of NODs are cured, so this isn't the number of properties that the banks' repossess. From RealtyTrac: U.S. Foreclosure Activity Decreases 6 Percent in May U.S. RealtyTrac® ... today released its May 2009 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 321,480 U.S. properties during the month, a decrease of 6 percent from the previous month but an increase of nearly 18 percent from May 2008. The report also shows that one in every ...

Foreclosures Up 18%
The Big Picture — > US Foreclosure filings (default notices, scheduled auctions and bank repos) were 321,480 U.S. properties during May 2009. One in every 398 U.S. housing units received a foreclosure filing in May, the third highest month on record. RealtyTrac said they expect REO activity to “spike in the coming months as foreclosure delays and moratoria implemented by various state laws come to an end.” > Source: U.S. FORECLOSURE ACTIVITY DECREASES 6 PERCENT IN MAY RealtyTrac, June 11, 2009 ...

Foreclosures slow, still near record
The Mess That Greenspan Made — RealtyTrac reports a six percent decrease in foreclosure activity during the month of May, down slightly from record levels seen in recent months but up 18 percent from year ago. "May foreclosure activity was the third highest month on record, and marked the third straight month where the total number of properties with foreclosure filings exceeded 300,000 — a first in the history of our report,” said James J. Saccacio, chief executive officer of RealtyTrac. “While defaults and scheduled foreclosure auctions were both down from the previous month, bank repossessions, or REOs, were up 2 percent thanks largely to substantial ...

Words from the investment wise June 14, 2009
The Big Picture — Words from the (investment) wise for the week that was (June 8 – 14, 2009) “Words from the Wise” this week comes to you in a shortened format as “day-job” responsibilities precludes me from doing a comprehensive commentary. However, a full dose of excerpts from interesting news items and quotes from market commentators is provided. Signs of stability characterized trading on financial markets during the past week. As investors placed their bets on a global economic recovery, equities, base metals and crude oil made further headway, with long-term government bond yields remaining at elevated levels, but declining somewhat after a ...