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+14 ·
First American Finds Correlation in Foreclosure Numbers
Filed Nov 17, 2006 at 7:44 PM ·
First American Real Estate Solutions (RES) announced yesterday the results of a study investigating the correlation between foreclosures as a percentage of total sales and the size of the discount buyers typically receive when purchasing foreclosure properties.
Orange County, California, for instance, displayed foreclosure sales at 0.5 percent of total sales during the first half of 2006, with a median discount of 3.8 percent, whereas in Baltimore, Maryland, foreclosures represented 8.9 percent of total sales with a median discount of 20 percent.
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+20 ·
Soaring Foreclosure Rates Across the Nation
Filed Nov 13, 2006 at 7:59 PM ·
Foreclosure rates are running rampant, and according to ForeclosureS.com, a northern California-based publisher of foreclosure property information, the Southwest is among the top states leading the pack. Fueled by the high cost of energy, rising interest rates and lenient lending, homeowners in the thousands are losing their homes.
Just two months shy to end the fourth quarter and already numbers have increased nationally by 19.6 percent overall with 766,058 foreclosure filings, up from 2005's 640,457 reported numbers.
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+8 ·
Foreclosure Rates Spike Across the US
Filed Nov 09, 2006 at 6:12 PM ·
According to Bargain Network, an online provider of real estate foreclosure, pre-foreclosure and for-sale-by-owner properties and information, third quarter foreclosure activity has increase across the United States by 14 percent compared to the second quarter this year. The Monthly U.S. Foreclosure Trend Report released yesterday by the company also held that the nation saw a 39 percent increase in foreclosure activity compared to the same quarter last year, and that in the month of September alone, there were 103,000 houses that went into the foreclosure process.
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+8 ·
More than 100 Homes in Top 2 Foreclosure States Going to Auction
Filed Nov 03, 2006 at 2:53 PM ·
Hudson and Marshall is planning to auction more than 100 homes in foreclosure-flooded Colorado and Nevada on November 16, 18, and 19. Based on numbers from RealtyTrac, Colorado and Nevada took the top two spots, respectively, as the states with the highest foreclosure rates in the country for the third quarter.
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+9 ·
Young Entrepreneur Learns By Experience
Filed Oct 31, 2006 at 5:18 PM ·
The twenty-four year old California investor has $2.2 million in five properties spread out across three U.S. states. He originally bought eight houses with the intent to flip, all with no money down, but due to the burst in the housing bubble, has only been able to sell three. Now out of cash, but not out of hope, Serin has created a blog to inform others of his mistakes and challenges, and, of course, he provides a "tip jar" for those sympathetic to his plight.
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+5 ·
RealtyTrac Indicates National Foreclosures Up 17 Percent in 3Q
Filed Oct 30, 2006 at 5:34 PM ·
According to their 3Q 2006 U.S. Foreclosure Market Report released today, RealtyTrac reported that 318,355 properties entered some stage of forelcosure nationwide, an increase of 17 percent from the previous quarter and a 43 percent increase from the third quarter in 2005.
James J. Saccacio, chief executive officer of RealtyTrac, states that hikes in interest rates and a slump in the market are two key factors to the 43 percent increase since third quarter 2005.
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+8 ·
WaMu Reports Increase in 3Q Foreclosure Rate, Drop in Earnings
Filed Oct 19, 2006 at 9:20 PM ·
Washington Mutual, Inc. Thursday reported an increase in its foreclosed asset rate and a decrease in earnings for the third quarter, which WaMu attributed partially to a sale of mortgage servicing rights, efficiency initiatives and a slowing housing market.
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+11 ·
Fitch Says Finance Outlook Stable, But Housing Market Weakening
Filed Oct 13, 2006 at 3:49 PM ·
Weakness in the housing market is becoming increasingly apparent, according to Fitch. A preliminary U.S. Census report showed 433,000 housing unit starts for the second quarter of 2006, a 10.7 percent year-over-year decline. Fitch U.S. Public Finance is responsible for monitoring housing market activity and says it's looking particularly for credits with a large dependency on housing-related revenues, like property taxes or property transfer taxes, and also for any high concentration of workers in construction or other housing-related industries.
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+1 ·
HPF and USA Cares Helping Military Families Avoid Foreclosure
Filed Oct 12, 2006 at 4:00 PM ·
Minneapolis-based Homeownership Preservation Foundation is granting $350,000 to support military homeowners through a partnership with USA Cares, the nonprofit loss mitigation agency announced Thursday.
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+5 ·
Massachusetts Foreclosures Soar in August
Filed Sep 26, 2006 at 1:40 PM ·
ForeclosuresMass.com is reporting today that foreclosures in Massachusetts are escalating at levels the company says it hasn’t seen “since the housing crash of the early 1990s.”
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+3 ·
CRL Calls for Reform, Says Subprime ARMs Leading to Foreclosure
Filed Sep 26, 2006 at 12:15 AM ·
The Center for Responsible Lending is urging policymakers to address what it calls “high-risk exploding ARMs” in the subprime market. CRL President Michael Calhoun recently addressed subcommittees of the Senate Committee on Banking, Housing and Urban Affairs. "Nontraditional loans in the subprime market are seriously eroding the traditional benefits of homeownership," Calhoun said. "By their very nature, they pose a high risk of losing valuable home equity or foreclosure."
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+9 ·
Martin, Leigh, Laws Fritzlen Expanding Office
Filed Sep 22, 2006 at 3:56 PM ·
"The firm says the move is necessary to accomodate the growing staff." And what is that staff needed for? To accommmodate the growing number of foreclosures, perhaps? Yes, expect a lot of foreclosure firms to start expanding in the near future.
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