About: Terry James

Recent Posts by Terry James

Addressing Distressed Real Estate Part of Obama’s Project Rebuild Plan

In addition to refinancing assistance for mortgage holders, President Barack Obama’s proposed American Jobs Act includes a handful of elements that relate to the distressed real estate market, all part of what the administration has labeled Project Rebuild. The new $15 billion program is based on the Neighborhood Stabilization Program (NSP). NSP1, part of the Housing…
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Home Prices Rise Again in July…Prices Still Down 5.2% Year-Over-Year…

Home prices rose 0.8% during the month of July, marking the fourth consecutive month of increase, according to CoreLogic’s July home price index. Capital Economics responded to CoreLogic’s report saying, “We are wary of reading too much into CoreLogic’s fairly optimistic house price report for July, which showed that seasonally adjusted prices fell by just 0.1% m/m, when…
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Home Prices Rebound in Q2 2011 – Prices at 2003 Levels

Home prices increased 3.6% over the second quarter of this year, after having fallen 4.1% in the first quarter, according to the latest S&P/Case Shiller index released Tuesday. With the second quarter’s data, the national index reading recovered from the double-dip cyclical low hit at the end of the first quarter, but still posted an annual decline…
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Short Sale and REO Transactions Continue to Rise Offering Steep Discounts to Investors – 31% of All Closed Sales in 2nd Quarter 2011

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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1 Million Foreclosures Delayed Until 2012

According to the latest report from RealtyTrac, an estimated 1 million foreclosure-related notices for defaults, auctions, and home repossessions that should be filed by lenders this year will be pushed back until next year.  While the delays could give home owners more time to catch up on their payments and try to avoid foreclosure, housing…
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