November Home Sales Fall to 19-Month Low

As borrowers battled declining inventory and rising prices, November sales of existing U.S. homes fell to their lowest level in almost two years, according to the National Association of Realtors. Total existing home sales dropped 10.5 percent to a seasonally adjusted annual rate of 4.76 million in November, down from 5.32 million the month before. Sales have not seen a pace that slow since April 2014. This is the first time in 14 months that sales have actually decreased on a year-over-year basis, Read more [...]

Zombie Foreclosures Tumble From Previous Year

The number of U.S. ‘zombie’ foreclosures – vacant properties in the foreclosure process but not yet repossessed by the lender – plunged 43 percent in the third quarter from the year before, according to data from foreclosure data firm RealtyTrac. There were 20,050 zombie foreclosures in the third quarter of 2015, a 27 percent decrease from the second quarter. Foreclosures have declined on a broad scale over the past several years, leading to fewer vacant properties overall. Vacant properties, Read more [...]

Foreclosure Starts Fall to 10-Year Low

The number of new mortgage foreclosures fell to a decade-long low during the first half of 2015, according to a new report from foreclosure data firm RealtyTrac. In its Midyear 2015 U.S. Foreclosure Market Report, RealtyTrac reported that there were 304,439 properties that entered the foreclosure process during the first six months of this year, a 4 percent decrease from the previous year and the lowest number on record in the survey’s almost 10-year history. Compared with the first half of Read more [...]

Mortgage Delinquencies Plummet in First Quarter

Homeowners have done a remarkable job of getting and staying current on their mortgage loans in the past year, according to a new report from the Office of the Comptroller of the Currency (OCC), an indication of the improving health of the U.S. economy. The OCC Mortgage Metrics Report  found that in the 2015 first quarter, only 1.9 percent of all mortgages were 30 to 59 days late, 7.0 percent drop from the previous year. And seriously delinquent loans made an even dramatic fall, decreasing to Read more [...]

Mortgage Delinquencies Fall to 8-Year Low

American homeowners are doing better at paying their mortgages on time, according to the latest data from the Mortgage Bankers Association, with delinquencies falling to their lowest levels in almost 8 years. The MBA's National Delinquency Survey found that delinquencies – loans that were at least one payment behind but not yet in the foreclosure process – fell to a seasonally adjusted rate of 5.54 percent of all mortgage loans in the first quarter of this year, up from 5.68 percent during Read more [...]

2014 Foreclosures Hit Pre-Mortgage Meltdown Lows

U.S. foreclosures continued to decline last year, reaching an eight-year low, according to foreclosure listing firm RealtyTrac Inc. , falling to levels not seen since the beginning of the housing crash. RealtyTrac found that there were 1.12 million homes in 2014 with foreclosures filings – default notices, scheduled and bank repossessions – an 18 percent decrease from 2013 and a 61 percent dive from the 2010 peak. One out of every 118 American housing units receiving a filing. That’s the Read more [...]

Existing Home Sales Bounced Back in September

After falling in August, sales of existing U.S. homes rose to their highest level of 2014 in September, according to the National Association of Realtors. “Low interest rates and price gains holding steady led to September’s healthy increase, even with investor activity remaining on par with last month’s marked decline,” said NAR chief economist Lawrence Yun. “Traditional buyers are entering a less competitive market with fewer investors searching for available homes, but may also face Read more [...]

U.S. Foreclosures Drop 9.4 Percent in Latest year

The number of completed foreclosures made a major yearly drop, according to new data from foreclosure tracking firm CoreLogic, even though they rose on a monthly basis. The CoreLogic National Foreclosure Report showed that there were 47,000 completed U.S. foreclosures in May, up 3.8 percent from 45,000 in April. Compared with May 2013, however, foreclosures were down 9.4 percent from 52,000. While the yearly decline is encouraging, things are still a long way from their pre-mortgage meltdown Read more [...]

Foreclosures Make Impressive Yearly Drop

The number of U.S. homes in some stage of foreclosure fell 35 percent during the past year, according to new data from foreclosure data company CoreLogic. There were 752,000 homes in the foreclosure inventory in February 2014, down from 1.2 million one year earlier. As of February, the foreclosure inventory accounted for 1.9 percent of all mortgaged homes, a major decrease from 2.9 percent in February 2014. Foreclosures were also down on a monthly basis, falling 3.3 percent from January. The Read more [...]

So You Bought a Foreclosure…Now What?

You have taken the leap by buying a foreclosure. Your plan is to get in, make repairs and upgrades, and flip it for a profit. It's a brave undertaking but one that net the average flipper $30,000 per house in 2012. While no one formula fits every situation, there are a number of points that most experts agree can help you net the greatest reward. Read more [...]