Owners Missing Money at Foreclosure Auctions

Because there’s strong demand for affordable residences in markets that are seeing home prices surge, some homes sold at foreclosure auctions are netting more than what the lender is owed. Once debts, liens, and fees are paid off, the home owner who’d fallen behind in their mortgage payments is entitled to the remainder. But here’s the […]

‘Zombies’ Make Up 21% of Foreclosures

  Zombie foreclosures are still haunting the housing market, representing one in every five foreclosures nationally, according to RealtyTrac, a housing data firm. “Zombie foreclosure” is a term coined to describe properties where the foreclosure process has been started and the home owner vacates, but the foreclosure has never been completed. As such, the distressed […]

Had Your House Foreclosed? You May Have a Second Chance for Homeownership Soon

  Those who lost their home due to financial hardships may get another shot at being home owners again soon. The Federal Housing Administration recently announced that they would shorten the waiting period for qualified borrowers who’ve had a bankruptcy, foreclosure, deed in lieu of foreclosure, or short sale who want to buy a home […]

Home Owners Equity Rising Above Water

In the next 15 months, 8.3 million home owners — about 18 percent of home owners who have a mortgage — are expected to gain enough equity to be in a better position to sell their homes, according to RealtyTrac’s September report on home equity. “Steadily rising home prices are lifting all boats in this […]

Foreclosures Rise in June, But See Big Drop for Year

Completed foreclosures rose 2.5 percent in June from May, CoreLogic reported Tuesday. Its report follows another recent one from Lending Processing Services that showed nearly a 10 percent rise in the national delinquency rate in June compared to May. About 1 million homes are in the foreclosure inventory as of June, CoreLogic reports. That does […]

Foreclosures Down 29% From Year Ago

Foreclosures are continuing a steady fall, as home prices rise and the housing market picks up nationwide. About 1 million homes were in some stage of foreclosure in May, down from 1.4 million in May 2012, a 29 percent decline, according to CoreLogic’s latest foreclosure report. As of May, the foreclosure inventory represented 2.6 percent […]

Large Number of Foreclose Homes Are Vacant

  Is anyone home? Apparently not in a large share of foreclosed homes. Twenty percent of foreclosures nationwide are abandoned by their owners and left vacant, according to RealtyTrac. It’s important to move vacant foreclosures quickly so that they don’t negatively impact surrounding real estate values, says Daren Blomquist, vice president of RealtyTrac. Bank of […]

Foreclosure Activity Back on the Rise

Foreclosure filings—which include default notices, scheduled auctions, and bank repossessions—increased 2 percent in May, rising from a 75-month low in April, according to the latest foreclosure report from RealtyTrac. Still, foreclosure filings are down 28 percent from a year ago. The May increase was largely attributed to an 11 percent increase in bank repossessions. Foreclosure […]

It’s Not Over: Report Warns Shadow Inventory Threat Remains

  Foreclosures have been falling in recent months, but two government watchdogs warn that the foreclosure crisis isn’t over yet. About 1.7 million borrowers have missed more than one payment on their government-backed mortgages, according to a newly released report by the inspectors general of the Federal Housing Finance Agency and Department of Housing and […]

Is The Foreclosure Crisis Disappearing?

              Foreclosures are falling quickly as more borrowers keep up with their mortgage payments and banks complete more loan modifications or approve short sales to avoid foreclosures on their books. For the first time since 2008, the number of borrowers who are behind on their payments or in foreclosure […]