Rising Tide of Foreclosures Coming in 2012 - 12/27/11 12:36 PM
On Dec. 21, the Office of the Comptroller of the Currency released its latest report, which shows delinquencies remained elevated during the third quarter of 2011.
The number of new foreclosures increased by 21 percent during the quarter, partly due to servicers lifting the voluntary "foreclosure freeze" implemented in late 2010 as a result of the robo-signing scandal.
The overall increase has resulted in the number of foreclosures in process increasing to 4.1 percent of the overall portfolio, or 1,327,077 loans, at the end of the third quarter of 2011.
This supports RealtyTrac's latest data, which also predicts increased foreclosure activity … (2 comments)

Fannie Mae & Freddie Mac Announce an "Eviction Moratorium" for the Holidays - 12/19/11 06:20 PM
The holiday season should be a magical time of year. However, for a growing number of families, the usual holiday celebrations are trumped by financial troubles, foreclosure and the looming threat of eviction.
Fannie Mae and Freddie Mac offered some relief to such families by announcing an “Eviction Moratorium” through January 2, 2012. During this time, families living in foreclosed homes will not be forced to leave, though legal proceedings may continue as scheduled.
Undoubtedly, Fannie and Freddie’s efforts will prove comforting to homeowners who find themselves in this situation. However, the relief is short lived.
Remember, the “eviction moratorium” is … (4 comments)

Bank of America Announces HAFA Process Improvements - 12/07/11 04:10 PM
In an effort to reduce cycle time and improve customer service, Bank of America (BOA) announced several changes to their Home Affordable Foreclosure Alternatives (HAFA) short sale process, which agents should be aware of.
Highlights include:
When a short sale is submitted with an offer and the homeowner is HAFA eligible, BOA will no longer halt work on the file while waiting to contact the homeowner. Short sales initiated on Equator.com that receive a HAFA eligibility message no longer require homeowners to call Customer Care to confirm their interest. If homeowners wish to participate in HAFA, agents must submit the requested … (3 comments)

 
Alexfavoritepicture_600 Rainmaker_large

Alex Charfen

Austin, TX

More about me…

Charfen Institute

Office Phone: (800) 482-0335

Email Me

Our news and views on the distressed property market and Real Estate in General.


Listings

Links

Archives

RSS 2.0 Feed for this blog

Find TX real estate agents and Austin real estate on ActiveRain.