MA Foreclosure Deeds Climb 38 Percent From A Year Ago
The number of foreclosure deeds recorded in Massachusetts dipped in November compared to the prior month, but jumped 38 percent from the same month last year, according to Banker & Tradesman. A total of 880 foreclosure deeds were filed in November, down 11.6 percent from 996 in October and 37.9 percent higher than the 638 [...]
Advice for buying foreclosures
This month’s issue of Fortune featured some good advice for those buyers looking to enter the wild world of foreclosures. We are seeing more foreclosures in the Boston real estate market, and this may be a great opportunity to jump…just watch out for the landing. 1. Consider paying cash: Some foreclosure transactions will require you [...]
As more foreclosed properties flood the marketplace, many potential homebuyers aren’t sold on the idea of owning one. A new Harris Interactive study commissioned by Trulia and RealtyTrac, finds that only 47 percent of U.S. adults surveyed would consider buying a foreclosed home, down from 54 percent of respondents surveyed in April 2008. A majority [...]
Foreclosure Activity Decreases in November
Foreclosure activity decreased 7 percent in November from the previous month, but was still 28 percent higher than November 2007, according to the latest report from RealtyTrac, an online marketer of foreclosure properties. Foreclosure filings — which include default notices, auction sale notices and bank repossessions — were reported on 259,085 properties for the month, [...]
‘Extreme Makeover’ Winners Face Foreclosure
One of the most-watched winners on ABC-TV’s “Extreme Makeover: Home Edition” is about to undergo foreclosure. The Nov. 6, 2004, show, which set an “Extreme Makeover” ratings record, featured Judy and Larry Vardon, who are both deaf. The show remodeled their home to accommodate their blind, autistic son Vance, now 16 years old. The Vardons [...]
Foreclosures.com Forecasts Housing Recovery in 2009
Foreclosures.com paints a rosy picture of the housing market for next year. In its 2009 Outlook, the real estate property information company says foreclosures will decline next year as more buyers return to the market, pushing up prices and fueling a recovery. Foreclosures nationwide showed a slight drop from 84,534 to 84,291 in November from [...]
Many Homeowners Still Delinquent After Loan Modifications
More than half of homeowners who had their mortgage loans modified in the first quarter of 2008 fell delinquent within six months, according to new data from the Office of the Comptroller of the Currency and the Office of Thrift Supervision. The study, which covers loan modifications by the 14 largest national banks and thrifts, [...]
Whatever you do, don’t get a foreclosure notice!
Selling real estate has two aspects, pricing and timing. If you need to sell quickly, you need to price you home very competatively. Unfortunately, far too many Boston sellers are ignoring this logic. I have seen far too many people wait until they receive a foreclosure notice before putting their home on the market or, [...]
Mortgage Fraud Rises on Fewer Loan Applications
While there were fewer loan applications in the second quarter of 2008 compared to a year ago, reported cases of mortgage fraud in the U.S. jumped by 45 percent, according to a new report by the Mortgage Asset Research Institute. Nearly two-thirds of fraud cases (65 percent) involved general application misrepresentation (such as name, occupancy [...]
Mortgage Delinquencies, Foreclosures Hit Record
A record one in 10 U.S. mortgage holders were either behind in their payments or in foreclosure at the end of the third quarter, according to data released this morning by the Mortgage Bankers Association. The group estimates that 2.2 million homeowners will enter the foreclosure process this year.
