Foreclosures Drop 3% in May as Lenders Tackle Backlog: RealtyTrac

 · Most troubling is the fact that the home mortgage foreclosure rate spiked 46% in March from a year ago, hitting a record high. A record 5.4 million Americans are delinquent on their mortgage loans, or are already in foreclosure. A record 20 million Americans now owe more on their mortgage loans than their homes are worth. Home prices plunged a record 19% in the 1Q.

Foreclosures Drop 3% in May as Lenders Tackle Backlog: RealtyTrac Freddie could take more than a decade to unload REO inventory Father of securitization doubts easy return to private mortgage bonds

This is why Trump’s election is causing the recent uptick in interest rates No One Person Or Agency Controls Mortgage Rates. This is why mortgage rates and bank rates sometimes do not follow the same trends. In a similar sense, the new administration – like the old one – has no direct say over mortgage rates. It can’t issue a news release raising or lowering real estate loan costs.

 · In Michigan, for example, only 3 percent of all home loans are in foreclosure, and in California, that rate is down to 3.29 percent. Both states had been among the leaders during the housing bust. Jeffrey Otteau, an appraiser and New Jersey real estate market analyst from East Brunswick, said the problem for the Garden State is only going to get worse.

According to state officials, there are 20000 active foreclosure cases. with Realty Trac reporting one of every 1,006 homes in some stage of. the banks that hold mortgages and servicers that process payments. courts have reduced the foreclosure backlog and shortened the time it takes to clear cases.

("Number of the Week: 103 Months to Clear Housing Inventory", Mark Whitehouse Wall Street Journal) A 9-year backlog of homes. No wonder the yield on the 10-year Treasury is under 3. RealtyTrac.

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Foreclosure activity dropped 3 percent from April to May, according to. every 400 U.S. housing units. RealtyTrac says the data confirms that foreclosure activity is leveling off, even as lenders. ("Number of the Week: 103 Months to Clear Housing Inventory", Mark Whitehouse Wall Street Journal) A 9-year backlog of homes.

According to a recent report by Corelogic “House prices are up 6.3% year-over. news is that overall foreclosure activity continues to fall and a decline in new foreclosures are leading the drop..

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Research firm RealtyTrac says that foreclosures dropped in May to 322,920, down 3% from April and 1% from a year ago. overall foreclosure activity leveling off while lenders work through the.

Mortgage Delinquencies Pass 10%: LPS. Home-loan delinquency rates in the US reached 10% in December, up from the record-high 9.97% in November, according to Lender Processing Services. which provides data on mortgage performance. Accounting for foreclosures in the pipeline, the total non-current rate stands at 13.3%..

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