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Crisis Watch

January Prices Plunged in Illinois

In another sign that the nexus of national foreclosure activity is shifting to the Midwest, Illinois led the nation in price declines in January with an 8.7 percent plunge in median sale price from a year ago. Next biggest losers were Nevada (-8.0 percent), Delaware (-7.9 percent), Alabama (-7.7 percent) and Georgia (-7.5) percent. Read More »

Foreclosure Discounts are Greatest in Midwest, Northeast

The average price of a foreclosure-related sale was only 29 percent below the average price of a non-foreclosure sale during the fourth quarter of 2011, down from a 34 percent foreclosure discount in the third quarter and a 35 percent foreclosure discount in the fourth quarter of 2010, according to RealtyTrac’s Q4 and Year End 2011 U.S. Foreclosure Sales Report. Read More »

Outlook 2012: Total Mortgage’s John Walsh Sees Hope in National Loan Limits

John Walsh, CEO of Total Mortgage Services in Milford CT, is an entrepreneur who has built his mortgage company into a 25-state powerhouse that is continuing to expand. He is a forward thinker, and maybe a bit of a contrarian, who entered wholesale banking last year, with his wholesale channel TMS Funding, when the too-big-to-fail banks like Bank of America pulled out. But he must be onto something, as Total Mortgage has never had to repurchase one of its loans. In addition Walsh is an outspoken advocate for mortgage finance at a time when many lenders are putting their money elsewhere. Read More »

Atlanta Won’t Miss 2011

Home prices in Atlanta plummeted during the fourth quarter as a flood of foreclosures saturated the market, leaving economists across the nation scratching their heads and local homeowners hoping for a turnaround. Read More »

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