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The Foreclosure Report: March 2006
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Friday, March 31, 2006. Everyone Agrees Disclosure Process Broken'. Observer continues the series on loan reform. "Mortgages and other financial products need to carry clear and simple disclosures so borrowers can make better financial decisions, a federal banking regulator said Thursday. Existing disclosures don't help people understand what they're buying, or compare it with another product, said Julie Williams, chief counsel to the comptroller of the currency.". The financial industry is open to impro...
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The Foreclosure Report: June 2006
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Friday, June 30, 2006. Paying The Piper' In Delaware. A study, which relied on data from the state Judicial Information Center, found that foreclosure filings were up 51.6 percent in Delaware during the past five years.". Posted by Ben Jones @ 11:04 AM. Thursday, June 29, 2006. Jacksonville 'Drowning In Foreclosures'. Report from Jacksonville, Florida. "The housing market may be cooling nationally, but inside the Duval County Courthouse the foreclosure market is booming. The foreclosed property a...The a...
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The Foreclosure Report: December 2005
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Saturday, December 31, 2005. Pre-Foreclosures May Be Best Bet Now. Bankrate.com has this Q and A. On buying a foreclosure. "Dear Real Estate Adviser, I am thinking of buying a foreclosure home to live in and possibly another for an investment some time in the next year or so. I am wondering: Is this a good time to look? It might be the best time in years, which would mean it's perhaps the worst time for thousands of financially strapped U.S. homeowners struggling to hang onto their homes.". While there's...
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The Foreclosure Report: November 2005
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Wednesday, November 30, 2005. Seller-Funded' Downpayments Lead To Defaults. Specifically, we found that homes with seller-funded down payment assistance were appraised and sold for about 2 to 3 percent more than comparable homes without such assistance. That is, homebuyers would have less equity in the transaction than would otherwise be the case.". Because gifts of down payment assistance from seller-funded nonprofits are ultimately funded by the sellers, they are like gifts of down payment assistance m...
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The Foreclosure Report: January 2006
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Tuesday, January 31, 2006. Auctions Grow More Popular In Maine. Journal reports on the auction method of sellin a house. "Want to sell a piece a real estate for the most money you can? I am trying to educate people that auctions of real estate are good things,' said real estate auctioneer Thomas Madson who works in Gray.". Adrian Harris has been doing residential, equipment, wood lot and stumpage, or standing timber auctions across Maine and New England for several years and says the real estate side of ...
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The Foreclosure Report: February 2006
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Tuesday, February 28, 2006. Loans, 'No-Fear Factor' A 'Mixture For Failure'. Housing markets along the eastern seaboard are a mixed bag as the shift from a seller's market to a buyer's market continues and the risk of foreclosure increases. McGee pointed to a 35% year over year increase in foreclosure activity in Massachusetts at the end of 2005 as confirmation that slowing housing markets produce an increase in mortgage defaults.". Posted by Ben Jones @ 10:08 AM. Monday, February 27, 2006. The number of...
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The Foreclosure Report: September 2005
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Thursday, September 29, 2005. What Happens When Borrowers Get Behind. Takes a look at how families get behind. "Once you get behind, it just compounds real quick," said Reid Remington, housing counselor at Consumer Credit Counseling Service of North Central Texas in McKinney. 'After the second payment is late, if you don't send in the full amount, then they'll stop accepting any payments, and that's when they just seem to spiral downhill real quick.'". Posted by Ben Jones @ 2:38 PM. TThe seasonally adjus...
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The Foreclosure Report: April 2006
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Friday, April 28, 2006. Denver Defaults 'Hammering The Market'. On Denver area defailts. "The Denver-are first-quarter vacancy rate fell to 7.4 percent from 9.3 percent a year earlier, marking the fifth consecutive quarter that the vacancy rate has improved. Rising real estate foreclosures, escalating interest rates, an improving economy, and little apartment construction, all bode well for the market, said Gordon Von Stroh, a professor at the University of Denver.". Colorado reported 5,392 foreclosures.