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Tag Archives: Foreclosure Moratorium

Once-Invisible Inventory Can Be Seen on Zillow

Instead of finding clever ways to chase shadow inventory, Zillow has decided to make things easy for thrill-seeking homebuyers and investors who are trying to track down unlisted, invisible inventory. The real estate data provider announced Thursday it is providing a listing of 1.2 million pre-foreclosure and foreclosed properties at no cost. The homes provided through Zillow are not found on any Multiple Listing Service (MLS).

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Two-Thirds of the Largest Metros See Decline in Foreclosure Activity

From the second quarter to the third quarter of this year, 62 percent of metropolitan areas with a population of 200,000 or more saw a decrease in foreclosure activity, or 134 out of 212 metro areas. Year-over-year, foreclosure activity was down in 131 out of 212 metro areas, representing 62 percent of the metros tracked. RealtyTrac VP Daren Blomquist explained the decrease indicates ""most of the nation's housing markets are past the worst of the foreclosure problem.""

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West Coast Foreclosure Starts Plunge in September: ForeclosureRadar

Foreclosure starts fell dramatically in all five West Coast states tracked by Foreclosure Radar, further confirming suspicions that a foreclosure wave may not arrive. ""The continued decline in Foreclosure Starts clearly shows that even though servicers are now apparently in compliance and clear to move forward with foreclosures, they are still in no rush to foreclose on the majority of delinquent borrowers,"" said Sean O'Toole, CEO of ForeclosureRadar.

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Is the Industry Seeing Sunlight Break Through the Shadows?

The shadow inventory that previously darkened industry outlook is beginning to fade. In fact, we may soon begin to see the sunlight on the horizon. In July shadow inventory - unlisted homes that are seriously delinquent, in foreclosure, or held as REOs - declined 10.2 percent year-over-year, falling to 2.3 million homes, according to CoreLogic's Shadow Inventory Report released Tuesday. Seriously delinquent homes – those 90 or more days delinquent – are the most common type of home in today's shadow inventory, making up 1 million of the 2.3 million-home total.

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Completed Foreclosures in Bay State Drop 40% from Year Ago

In August, lenders in Massachusetts completed the least number of foreclosures since February 2011, according to a report from The Warren Group.Lenders in August completed 566 foreclosures, marking a 40 percent decease from August 2011, when there were 947 completed foreclosures.

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Pro Teck Ranks Top Markets, Says Foreclosure Flood Won’t Happen

Investors who are eagerly waiting for bargain prices from the potential foreclosure flood are likely waiting for something that won't happen, according to the September home value forecast report from Pro Teck Valuation Services. In the report, the company explained why it believes there will be no such flood and points to the current lack of inventory in markets such as San Diego, Orange County, and Los Angeles.

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Study: Delinquency Affects Neighboring Prices More than Foreclosure

A working paper released by the Federal Reserve Bank of Atlanta suggests that foreclosures may not negatively impact nearby property prices as much as originally thought. The paper examines and refutes the argument long used by experts that mortgage foreclosures greatly reduce the sale prices of properties in the area. The study actually found while neighboring home prices do tend to sink when a property becomes distressed, the effect is only minor.

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Colorado Foreclosure Filings Up, Sales Down in July

In Colorado, foreclosure filings were on the rise year-over-year in July, while foreclosure sales were down, according to a report from the Colorado Division of Housing. Foreclosure filings, which represent the beginning of the foreclosure process, spiked up 14 percent to 1,976 in July from 1,733 a year ago the same month. Foreclosure sales, which represent the time when the foreclosure process is completed, fell 23.7 percent to 865.

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Survey: Delinquency Rates Up, Foreclosure Starts Flat in Q2

The latest National Delinquency Survey from the Mortgage Bankers Association (MBA) showed that delinquencies increased in the second quarter of 2012, a shift anticipated by the association. The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 7.58 percent as of the end of Q2, an increase from 7.40 in Q1. The second quarter's increased rate was still down from 8.44 percent at the same time in 2011.

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