Short sales shot up 19% between the first and second quarters, with 102,407 transactions completed during the April-to-June period according to a RealtyTrac report. Over the same timeframe, a total of 162,680 bank-ownedREO homes sold to third parties, virtually unchanged from the first quarter. RealtyTrac’s study also found that…
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Early Mortgage Delinquencies Are Beginning to Rise Again
The delinquency rate of first-lien residential mortgages increased to 8.44 percent of all loans outstanding as of the end of the second quarter of 2011, the Mortgage Bankers Association (MBA) reported Monday. The delinquency rate includes loans that are at least one payment past due but not yet in foreclosure. Although the rate is down 141 basis…
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Mortgage Delinquincies Rise Sharply Over Past Two Months
Lender Processing Services (LPS) issued a report Tuesday which puts the number of mortgages that are delinquent or in foreclosure at 6,538,000. The company’s assessment is based on mortgage performance statistics derived from its loan-level database of nearly 40 million mortgage loans through the end of July. The grand total of past-due mortgages has risen…
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Investors Outperform Banks in Moving Investment Properties…
Third-party investors are much faster at reselling foreclosures than banks, according to ForeclosureRadar, a California-based tracking firm. ForeclosureRadar keeps close tabs on foreclosure activity in states along the country’s western seaboard, and the company says one market dynamic that it’s found to be consistent throughout the area is that investors are moving foreclosed homes at a…
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Foreclosure and Delinquency Numbers Rise Again
Data released by Lender Processing Services (LPS) last Thursday indicates foreclosure and delinquency numbers are on the rise again. The company’s report shows that foreclosures were initiated on 217,486 loans in June, up more than 10% from May. Interestingly enough, the company says most foreclosure starts are occurring on loans that are less than six…
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