Foreclosure

Spurred by rising unemployment, ATTOM has found that U.S. foreclosure filings climbed 22% year-over-year in the first quarter of 2023.

The MBA reports that pandemic-related loss mitigation options have pushed forbearance levels lower, as mortgage performance remains strong with post-forbearance workouts increasing in March.

Attorney William Scott Leaman discusses a recent foreclosure case in Ohio where the plaintiff’s motion for reimbursement was denied due to a lapse in time.

Despite economic conditions, a new report from TD Bank has revealed more than one-third of homebuyers planning to purchase a home reported that now is a good time to buy, as 54% of respondents said their level of financial preparedness has improved over the last two years.

The OCC’s latest Mortgage Metrics Report found that mortgage servicers nationwide initiated 9,166 new foreclosures in the fourth quarter of 2022, a decrease from Q3’s totals but a higher volume than recorded in Q4 2021.

Attorney T. Robert Finlay of Wright, Finlay & Zak, LLP delves into the state of California’s Homeowner Bill of Rights, and recent instances where protections against dual tracking came into play.

CoreLogic reports that the share of home loans in delinquency continues to dip nationwide, down from a high of 7.3% in the spring of 2020, and down by 0.5 percentage points from January 2022.

For those facing financial hardship, the Federal Housing Finance Agency announced Fannie Mae and Freddie Mac will enhance their payment deferral policies to allow borrowers to defer up to six months of mortgage payments.

According to Black Knight’s “First Look” at February 2023 data, the spike was “driven by a nearly 65K increase in those just a single payment behind.” Click through to see what the data looks like for prepayments, foreclosure starts, and more.

According to the RE/MAX National Housing Report for February 2023, the median sales price experienced a slight rise over January, ending a seven-month streak of price declines.