Tag Archives: Short Sales

A bill approved by a committee in the North Carolina House of Representatives would allow distressed homeowners to omit forgiven principal mortgage loan debt when reporting tax income at the end of the year, according to a media reports.

Sales of distressed homes (REO and short sales) fell to their lowest level in seven years and foreclosure inventory dropped by 34 percent year-over-year in December 2014, according to CoreLogic's February 2015 The MarketPulse report released on Tuesday.

While legal processes vary among states, property owners who are behind on their mortgage payment can use the short sale guide as a resource to explore their options and prevent a foreclosure on their home. Information provided by JWB can help rental home owners find alternative solutions to their housing problems.

REO sales posted the largest residential cash home sales share in November 2014 with more than 60 percent, according to CoreLogic's new cash sales data released on Wednesday.

REO liquidations have amassed a higher share of gross unpaid balance (UPB) recovery than short sales since the fourth quarter of 2012, reversing a crisis-years trend, according to Black Knight Financial Services' December 2014 Mortgage Monitor released Monday. As of the end of October 2014, REO sales prices accounted for 71 percent of the corresponding loans' defaulted UPBs, compared to 65 percent for short sales prices, largely due to home price appreciation, according to Black Knight.

HOPE NOW Non-foreclosure solutionsThe gap between non-foreclosure solutions and foreclosures widened even further in November 2014, according to data recently released by HOPE NOW, the voluntary private sector alliance of mortgage sevicers, investors, and non-profit counselors.

The median price of a distressed residential property, which is one that is either in the foreclosure process or owned by a bank, jumped up by 18 percent year-over-year in October, according to RealtyTrac's October 2014 Residential and Foreclosure Sales Report released on Wednesday.

The number of U.S. homeowners who received non-foreclosure solutions in the third quarter of 2014 totaled approximately 468,000 despite seeing large year-over-year declines in every category, according to data released this week by the HOPE NOW Alliance.

Distressed residential properties had a median sales price of 37 percent below the median sales price of non-distressed properties nationwide in September, according to RealtyTrac's Q3 2014 Residential and Foreclosure Sales Report released Tuesday.

Short sales and sales of distressed properties (those that are in foreclosure or bank-owned) accounted for 12.7 percent of all residential home sales in the U.S. in the third quarter, according to RealtyTrac's Q3 2014 Residential Sales Report released today.