Hot foreclosure markets have come and gone over the past seven years but one thing seems to stay the same. The markets with the most and the cheapest foreclosures are still located in Florida. Read More »

Among the five lenders involved in the National Mortgage Settlement – Bank of America, Wells Fargo, JPMorgan Chase, Citi and Ally/GMAC – non-judicial pre-foreclosure activity (NOD, NTS) decreased 41 percent in November compared to a year ago, led by Bank of America with a 63 percent decrease and Citi with a 40 percent decrease. Meanwhile judicial pre-foreclosure activity (LIS, NFS) for the five lenders combined increased 26 percent from a year ago, led by Chase with a 114 percent increase and Wells Fargo with a 37 percent increase. Read More »

For the first time ever, sales of properties in some stage of foreclosure (largely short sales) outnumbered sales of bank-owned properties (REO) in the third quarter, as short sales continue to gain market share at the expense of REO and sales of completed foreclosures at auction. Read More »

New Jersey , New York and Connecticut got hit with a storm of new foreclosures just days before Superstorm Sandy smashed homes and a knocked out power to missions of homeowners. Read More »

The national average discount on foreclosures has shrunk by 1.4 percentage points over the past year as competition for foreclosures as inventories tighten is driving prices closer to full-price properties. Read More »

September’s foreclosure data showed America has become bipolar over foreclosures, with dramatic decreases in most states but increases nearly as great in judicial states where lenders are speeding up processing of defaults. Read More »

The average foreclosure-related sales price in the second quarter ($170,040) soared 6 percent from the first quarter of the year and was up 7 percent from the second quarter of 2011 – the first annual increase in average price since Q2 2010 and the biggest annual increase since Q4 2006. Read More »

The number of homeowners who owe more in their mortgages than they are worth fell by 5.8 percent in the first quarter and nearly a full point from a year ago as rising values pushed nearly three quarters of a million homeowners into the black in the first quarter, and today the total may exceed one million. Read More »

Bank-owned foreclosures (REOs) are taking significantly longer to sell than foreclosures bought and resold by investors, extending the timeline for REO foreclosures even longer than the extraordinary delays for resulting from slower processing. Read More »

Recent bank scandals involving robo-signing foreclosure documents and improprieties in the lending process have weakened consumer confidence about housing market recovery prospects. More than half of adults report that robo-signing disclosures account for less faith in mortgage lenders, banks, and government, according to a recent study by Trulia and RealtyTrac. Thirty-five percent believe the robo-signing issue will delay housing market … Read More »