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Home | News | REO

Distressed Sales and Investor Purchases Fall in February

Distressed Sales and Investor Purchases Fall in February

U.S. residential sale volume decreased in February, with distressed sales and investor purchases also pulling back for the month. RealtyTrac's February 2014 Residential & Foreclosure Sales Report found that U.S. residential properties slid .2 percent from January, but remain up 7 percent from the same time period a year ago.

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What is Causing the Decline in Short Sales?

What is Causing the Decline in Short Sales?

Consequences stemming from the expiration of the Mortgage Forgiveness Debt Relief Act may be surfacing, according to a perspective piece written by CoreLogic’s Kathryn Dobbyn. The piece found that throughout 2012 and into 2013, short sales had been steadily declining, partly due to rising home prices.

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U.S. Bank Accused of Housing Discrimination

U.S. Bank Accused of Housing Discrimination

The National Fair Housing Alliance (NFHA) and four of its member organizations announced new evidence of housing discrimination by U.S. Bank, N.A. The civil rights groups allege that U.S. Bank maintains and markets foreclosed homes in white neighborhoods, in "a much better manner than in African-American and Latino neighborhoods," according to a press release issued by the NFHA.

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Rising Home Prices Shrink California Distressed Sales

Rising Home Prices Shrink California Distressed Sales

The California Association of Realtors (CAR) released a new report, revealing sales of distressed homes have plummeted in the past five years. In January, 2009, 69.5 percent of all homes sold in California were distressed, which included short sales and real estate-owned properties (REO). The report issued Monday noted that five years later, distressed home sales made up only 15.6 percent of sold homes.

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LRES Implements New REO System of Operations

LRES Implements New REO System of Operations

LRES, a national provider of residential and commercial valuations and asset management for the mortgage, banking, credit union, and real estate industries, announced a new real estate owned (REO) operating model. The model is expected to increase efficiency and accommodate new clients.

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Fannie Mae Increases Incentives to Purchase REO Properties

Fannie Mae Increases Incentives to Purchase REO Properties

Fannie Mae announced Thursday that homebuyers can now receive up to 3.5 percent in closing cost assistance. The help is available within the FirstLook period of Fannie Mae’s HomePath properties in 27 states. The incentive will offer qualified buyers up to 3.5 percent of the final sales price to pay closing costs.

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Foreclosures Rise in January; Decline Yearly

Foreclosures Rise in January; Decline Yearly

RealtyTrac released its U.S. Foreclosure Market Report for January, 2014. The report noted an 8 percent increase of reported properties from the previous month, citing 124,419 properties in foreclosure filings (default notices, scheduled auctions, and bank repossessions). Year-to-year, January, 2014 represented an 18 percent drop from January, 2013.

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