The thin shadow inventory compared with rising home values has caused the share of distressed home sales to drop to single digits. Since there will be fewer properties sold at deep discounts, this will cause home prices to strengthen, Yun said. "It also means that those practitioners who specialize in foreclosures or short-sales need to start thinking about a change in business models to normal home buyers and normal positive-equity home sellers," Yun wrote on the blog.
Read More »Massachusetts Court Rules in Favor of MERS
The Appeals Court of Massachusetts became the latest court to uphold the validity of the assignment of a mortgage by Mortgage Electronic Registration System (MERS) on Friday, according to an announcement from MERSCORP Holdings, parent company of MERS.
Read More »Replacement Checks Issued for Unclaimed Foreclosure Settlement Payments
Borrowers eligible for payment will soon be receiving replacement checks for the funds they were scheduled to receive under the Independent Foreclosure Review Payment Agreements, according to an announcement from the Federal Reserve Board and the Office of the Comptroller of the Currency (OCC) on Wednesday.
Read More »Wayne County, Michigan, Officials Help More Than 4,000 Avoid Foreclosure
Officials from the Wayne County, Michigan, treasury office assisted more than 4,000 homeowners delinquent on taxes with various plans to avoid foreclosure during the county's recent show cause hearings, according to Wayne County Deputy Treasurer David Szymanski.
Read More »California Judge Dismisses $16 Million Verdict Against Servicer
A California judge dismissed a $16.2 million verdict a jury awarded to a California homeowner in July after the homeowner sued mortgage servicer PHH Mortgage to stop foreclosure proceedings on his home.
Read More »Seriously Underwater Mortgage Rate Sinks to Lowest Level in Two Years
The number of U.S. homeowners who were seriously underwater in the third quarter declined 11 percent from the previous quarter, hitting its lowest level in more than two years, according to RealtyTrac's Q3 2014 Home Equity & Underwater Report released Thursday.
Read More »KML Law Group Hires Senior Counsel
Pennsylvania-based law firm KML Law Group, a firm devoted to mortgage foreclosure, bankruptcy, ejectment, REO closing, and other real estate matters for secured real estate lenders, has announced that John F. Goryl, Esquire, has joined the firm as senior counsel as of October 1, 2014.
Read More »Lenders Appeal Court Decision Allowing HOAs to Extinguish Mortgages
Several mortgage lenders have asked the Nevada Supreme Court to reverse a decision it made in September that a homeowners association's (HOA) super priority lien can extinguish a first deed of trust nonjudicially on a residential property.
Read More »Delaware Court Rules in MERS’ Favor Over Assignment of Mortgage
MERSCORP Holdings gained yet another legal victory earlier this week, this time in Delaware. In a suit brought about by a disgruntled mortgagor over whether or not MERS had the authority to assign a mortgage, a Delaware court ruled in MERS' favor.
Read More »Report: Distressed Homes Sold at Less Than Half Price in Eight States in August
Eight states reported a median sales price for distressed homes at less than half the sales price of non-distressed homes in August, according to a report recently released by RealtyTrac.
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