An executive with Bank of America said recently that his company has modified at least 550,000 mortgages in the past 2 1/2 years, adding that future loan modifications will help offset a looming wave of new foreclosures.
But Jack Schakett, senior vice president for Bank of America, the nation’s largest home lender, said that the company [...]
1.4 million BofA mortgages ‘are distressed’ is a post from: Mortgage Insider
Foreclosure activity in America won’t stabilize until late 2011, an executive for Irvine-based Realty Trac told a group of real estate writers.
And with only three out of eight bank-owned homes on the market, and two-thirds of those under-valued homes yet to hit, the U.S. housing market still faces years of low prices.
“They will make it [...]
Foreclosures to be high for 18 more months is a post from: Mortgage Insider
According to DataQuick’s monthly report for Orange County housing for March …
The number of defaults — first step to foreclosure — was 1,935 – that’s +9% vs. the previous month and -44.5% vs. a year ago.
Homeowners losing their homes through foreclosure numbered 723 – that’s +20.5% vs. the previous month and +33.6 % vs. a year [...]
O.C. foreclosures up 34% is a post from: Mortgage Insider
Homeowners who are in over their heads but have been unsuccessful at getting a loan modification may get some different help from Uncle Sam — $1,500 to move if they sell for less than they paid for the house, reports the New York Times.
Under the Obama Administration program, banks and second mortgage lenders would get [...]
Govt. to pay homeowners $1,500 to move is a post from: Mortgage Insider
Analyst/investor Bruce Norris thinks we’ll “fall back into recession” by end of this year.
Foreclosures now are just ‘tip of the iceberg’ is a post from: Mortgage Insider
A special prosecution team here has filed 29 cases so far.
$100 million reported lost in real estate fraud is a post from: Mortgage Insider
See how your city and price range is doing.
Freeze frame: O.C.’s distressed home sales is a post from: Mortgage Insider
State officials: Lender audits won’t help a homeowner avoid a foreclosure.
Warning: Avoid new ‘phony’ repo relief pitch is a post from: Mortgage Insider
As of last week, 62% of pending home sales were short sales, many taking months to go through.
Short sale process is ‘absolute crapshoot’ is a post from: Mortgage Insider
MDA DataQuick reported that lenders seized 662 Orange County homes in January, down 20.7% from the same month a year earlier.
Orange County foreclosures have been vacillating between 500 and 800 a month for the past year, with an average of 710 a month in 2009.
DataQuick figures show also that:
The past year’s figures were down from [...]
Foreclosures down 21% in January is a post from: Mortgage Insider
