The number of default notices in the second quarter falls 43.8% compared with the same period in 2009. Meanwhile, banks step up repossession of foreclosed homes.
The number of Californians entering foreclosure slid dramatically in the second quarter to a three-year low as the fallout from the worst of the housing crisis continued to abate.
Default notices, [...]
Posts Tagged ‘short sales’
Mortgage defaults in California at 3-year low
July 23rd, 2010 by Mortgage Writer
Tags: economic recovery, foreclosure, home foreclosures, home loans, home prices, homeowners, housing market, mortgage lenders, mortgage loans, mortgages, short sales, subprime mortgages, US Economy
more...Fewer underwater mortgages
November 9th, 2009 by Mortgage Writer
Fewer people are underwater on their mortgages — further evidence that the real estate free-fall may be slowing.
Just 21% of all single-family homeowners owe more on their mortgage balances than their homes are worth, according to a third quarter residential real estate report from Zillow.com. That is down from 23% at the end of the [...]
Tags: borrowers, foreclosed properties, foreclosure, homeowners, inventory, loans, mortgages, real estate, short sales, The National Association of Realtors
Primer on MI Rescission; Updates from Wells, Flagstar, Freddie, PMI, FAMC; Rates Lower
November 3rd, 2009 by Mortgage Writer
Mortgage banking is a numbers game. Although the illustration above might remind some of their CFO, in other circles it might illustrate what some mortgage bankers are facing right now: MI rescissions. Rescissions are not new. But what is this chatter about MI companies and their rash of rescinding coverage? One well-informed person wrote to [...]
Tags: borrower, foreclosure, Freddie Mac, investor, lender, loan, Mortgage Bankers, REO, short sales, wells fargo
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