Category Archives: Foreclosures

NJ moves closer to the top … 8.4% of mortgages in foreclosure

Posted on May 17, 2012 by grim
Posted in Economics, Foreclosures, New Jersey Real Estate | 151 Comments

From the Asbury Park Press: N.J. foreclosure inventoryspikes; 2nd most in nation New Jersey’s percentage of home mortgage loans in foreclosure continues to rise, even as rates nationally have fallen to the lowest level since 2008, a report released Wednesday … Continue reading →

Waiting for Godot the Bulldozer

Posted on May 14, 2012 by grim
Posted in Economics, Foreclosures, New Jersey Real Estate | 125 Comments

From the Record: North Jersey foreclosures haunt neighbors Maywood homeowner Joe Leichtnam spent some time recently trimming the shrubs, mowing the lawn and fixing the siding. Not at his house; at the empty house next door. It’s a small effort … Continue reading →

Is distressed the new normal?

Posted on April 24, 2012 by grim
Posted in Economics, Foreclosures, Housing Recovery, National Real Estate | 133 Comments

From CNBC: Short Sales Higher, Prices Lower Buyer traffic is strong, supply of homes for sale is low, and yet home prices continue to defy the usual formula, falling again in March. Prices usually rise as supply shrinks, but demand … Continue reading →

Risky loans bite Jersey banks

Posted on April 14, 2012 by grim
Posted in Economics, Foreclosures, Risky Lending | 41 Comments

From the Record: North Jersey banks repossessed more properties In banking, OREO is not a cookie, and there’s no sugary frosting in the middle. It’s an acronym for one of the industry’s most unpleasant statistics, Other Real Estate Owned, which … Continue reading →

How the Fed learned to stop worrying and love bad loans

Posted on April 11, 2012 by grim
Posted in Foreclosures, New Development, New Jersey Real Estate, Risky Lending | 141 Comments

From the Wall Street Journal: Jersey Rejuvenation Story About six years ago, Newark, N.J., seemed to be winning its long struggle to emerge from decades of urban decay, and one of the symbols of that was the opening of Eleven80, … Continue reading →

Bizzaro Weekend Edition – Foreclosure delays helping the economy

Posted on April 7, 2012 by grim
Posted in Economics, Foreclosures | 31 Comments

From Barrons: Consumers’ Quiet Helper: The Fruits of Foreclosure Imagine living at home and paying no mortgage, interest or taxes. That may sound like some late-night TV commercial, but millions of people are doing just that—the silver lining to having … Continue reading →

Foreclosure tsunami on the horizon?

Posted on April 5, 2012 by grim
Posted in Economics, Foreclosures, Housing Recovery, National Real Estate | 106 Comments

From Reuters: Americans brace for next foreclosure wave Half a decade into the deepest U.S. housing crisis since the 1930s, many Americans are hoping the crisis is finally nearing its end. House sales are picking up across most of the … Continue reading →

Otteau: “We are at a turning point in the housing market and the economy”

Posted on March 26, 2012 by grim
Posted in Economics, Foreclosures, Housing Recovery, New Jersey Real Estate | 139 Comments

From the Record: N.J. housing market recovering, appraiser says New Jersey’s housing market is recovering, and this spring’s home-selling season will be the liveliest in four years, appraiser Jeffrey Otteau said Monday. “We are at a turning point in the … Continue reading →

Fast tracking abandoned homes

Posted on March 19, 2012 by grim
Posted in Economics, Foreclosures, Housing Recovery, Politics | 157 Comments

From the Star Ledger: Housing, banking advocates hail measure to speed foreclosures of abandoned homes A piece of state legislation that looks to turn foreclosed homes into affordable housing also contains a little-noted provision that banking and housing experts say … Continue reading →

Anyone have the number for Roto-rooter?

Posted on March 9, 2012 by grim
Posted in Foreclosures, Housing Recovery, New Jersey Real Estate | 137 Comments

From HousingWire: CoreLogic: Clogged foreclosure pipeline in Northeast slowing recovery Real estate data firm CoreLogic says recent employment growth, low mortgage rates and home affordability are signs of a breakthrough in the American economy. CoreLogic released its latest MarketPulse report, … Continue reading →

Forclosure activity ticks higher as lenders resume resposessions

Posted on March 7, 2012 by grim
Posted in Foreclosures, National Real Estate, Risky Lending | 135 Comments

From Reuters: Foreclosure starts jump 28 percent in January : LPS Starts on U.S. home foreclosures shot up 28 percent in January, data provider Lender Processing Services (LPS.N) said on Tuesday in a report that suggested paper backlogs that had … Continue reading →

Does more REO mean lower prices?

Posted on March 6, 2012 by grim
Posted in Economics, Foreclosures, Housing Recovery | 92 Comments

From HousingWire: Home price declines resilient against REO saturation: Clear Capital National home prices fell by the smallest margin in 10 months in light of REO saturation increases, a trend that Clear Capital calls “unusual and encouraging.” Prices declined 1.9% … Continue reading →

Seller’s Market Buyer’s Market Renters Market! (and a squatter’s market too)

Posted on February 24, 2012 by grim
Posted in Economics, Foreclosures, Housing Recovery, Politics, Risky Lending | 163 Comments

A Two-Parter from Bloomberg (Hat tip Chi!): Why Renters Rule U.S. Housing Market (Part 1): A. Gary Shilling The collapse in housing and the 33 percent plunge in house prices since 2006 are favoring renting over homeownership. This trend will … Continue reading →

NJ foreclosure conversion deal moves forward

Posted on February 17, 2012 by grim
Posted in Foreclosures, Housing Recovery, New Jersey Real Estate | 174 Comments

From the Record: NJ Senate panel OKs bill turning foreclosed property into affordable housing A Senate panel unanimously approved a measure Thursday that would let municipalities and a new state corporation buy foreclosed homes and offer them to low- and … Continue reading →

When does the tsunami hit?

Posted on February 16, 2012 by grim
Posted in Foreclosures, National Real Estate | 148 Comments

From WSJ: RealtyTrac: Foreclosure Filings Fall 19% In January The number of U.S. properties with foreclosure filings fell 19% in January from a year earlier, though several states reported increased foreclosure activity for the first time in more than a … Continue reading →