Short Sales now 35% of Liquidations - REO's Down (for now)
Wednesday, November 18
A Research Note by Barclays Capital, indicates that short sales have been boosted by mandatory and voluntary foreclosure prevention efforts that have prevented mortgages from entering REO status. As federally-funded loan modifications made through the Home Affordable Modification Program (HAMP) ...
Mortgage Delinquencies Up - But Rate of Increase Slowing
Tuesday, November 17
TransUnion has just reported that delinquent mortgages increased to 6.25%, up a whopping 58% from 3.96% a year ago. These are mortgages 60 or more days past due. Two months delinquency is a serious step toward foreclosure, as it then becomes more difficult for homeowners to catch up on back pay...
California Foreclosures - Continuing
Monday, November 16
ForeclosureRadar.com just reported foreclosures in California increased 22.24% from September to October. Last month’s foreclosures increased 20.95% from October 2008, which were 42.56% below California’s peak month of July 2008. However since then, the inventory of real estate owned (REO) prop...
Short Sales & Foreclosures - Upcoming Waves?
Sunday, November 15
According to RealtyTrac, foreclosure filings were down 3% in October, the third consecutive month-over-month dip. Foreclosure rates are still up 18% compared with October 2008, but the month-over-month decrease followed a 4% drop in filings during September and a 1% fall in August. “Three conse...
The BPO - Get Involved
Sunday, November 15
Understand the general perspective of the agent conducting a BPO (Broker Price Opinion) and to taking as active a role in it as possible is suggested by most real estate coaches . A BPO Agent usually makes only $40-100 for each BPO the lender orders? Consider what a BPO agent must do for that typ...
More Defaults and Short Sale Coming - CBS Video
Sunday, November 15
Check out this CBS video. It estimates we are only half way through the mortgage meltdown and only one-third of the way into the popping of the bubble on other asset classes (commercial real estate, credit cards, and autos). It predicts Shortsales and Bank REO’s will remain high through at leas...