foreclosure rate: Recent Foreclosure Statistics Provide Interesting Data
- 07/17/11 04:09 PM
There is certainly massive uncertainty about the validity of many aspects of the foreclosure process. States are enacting legislation to protect home owners, courts are holding lenders accountable for sloppy transactions and record keeping, and the foreclosure process itself has be revamped on many states. Despite all of this, foreclosure times actually decreased in three critical states last month. California, Arizona and Nevada all reported decreased foreclosure timelines in June 2011 despite uncertainty over MERS, bank processes and the general wisdom of adding to the shadow inventory in a fragile market. According to ForeclosureRadar, even though the month-over-month foreclosure duration decreased … (2 comments)
foreclosure rate: Isn't This Behavior That Got the Real Estate Industry into Trouble in the First Place??
- 07/11/11 09:28 PM
Those pesky little elves in Washington are at it again! I refer to them as elves because they tinker and meddle behind the scenes and no one on the outside really knows what they are doing! The distinguishing feature here of course is that elves are lovable and WASHINGTON IS NOT! Naturally, I could refer to them as OTHER things but decorum and good taste prevent me from doing so in this forum…and besides, there are those that are equally delusional that will send me nasty emails!! LOL In what could be a repeat of the easy-lending cycle that led to … (17 comments)
foreclosure rate: Shadow Inventory Reports Indicate Recovery Still Far Away
- 03/29/11 06:53 PM
The shadow market is coming out of the shadows, and the numbers are staggering. According to a report released yesterday by LPS (Lender Processing Services), “foreclosure inventory levels [stand] at 30 times monthly foreclosure sales volume.” As a result of this massive backlog, real estate analysts expect more downward pressure on U.S. home values as most of these homes are likely to reenter the market as REO properties rather than being sold in another more profitable manner. The statistics on the foreclosure backlog are also staggering, with LPS reporting that the average U.S. loan currently in foreclosure has been delinquent for … (5 comments)
Author Bio: Paddy Deighan earned his Juris Doctorate and PhD Paddy consults with taxpayers in regard to tax liens, tax levies, tax levy, offer in compromise, tax debt, tax settlement
There is certainly massive uncertainty about the validity of many aspects of the foreclosure process. States are enacting legislation to protect home owners, courts are holding lenders accountable for sloppy transactions and record keeping, and the foreclosure process itself has be revamped on many states. Despite all of this, foreclosure times actually decreased in three critical states last month. California, Arizona and Nevada all reported decreased foreclosure timelines in June 2011 despite uncertainty over MERS, bank processes and the general wisdom of adding to the shadow inventory in a fragile market. According to ForeclosureRadar, even though the month-over-month foreclosure duration decreased … (2 comments)
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