Category Archives: Foreclosures

Good deals in Newark?

Posted on April 20, 2013 by grim

From the Star Ledger: Newark sells off dozens of foreclosed properties in city auction The sing-songy voice of the auctioneer echoed across the Terrace Ballroom at Newark Symphony Hall as hopeful property owners clutched their catalogs and filed in and … Continue reading →

Posted in Economics, Foreclosures | 35 Comments

What’s behind NJ’s foreclosure backlog?

Posted on April 16, 2013 by grim

From Fortune: Behind the foreclosure surge in New York, New Jersey Just as most of us believe we’ve seen the worst of the housing market’s collapse, two unlikely states are only now getting hit with a wave of foreclosures: New … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, New Jersey Real Estate | 63 Comments

Otteau: NJ market “will swallow these foreclosures whole without even chewing on them.”

Posted on April 12, 2013 by grim

From the Star Ledger: Foreclosures in New Jersey still up, but correcting course Foreclosures continue to climb in New Jersey from last year, but at a slower pace than other states that saw an increase, according to data from RealtyTrac. … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 85 Comments

Foreclosures improve nationally, local markets not so rosy

Posted on March 14, 2013 by grim

From MarketWatch: The number of U.S. properties with foreclosure filings fell 25% in February from a year earlier as U.S. bank reposessions dropped to a 65-month low, according to market researcher RealtyTrac. There were 154,281 U.S. properties with default notices, … Continue reading →

Posted in Economics, Foreclosures, National Real Estate | 57 Comments

How to get paid to live in a $1m house

Posted on March 10, 2013 by grim

From MarketWatch: How luxury-home owners dodge foreclosure When the owners of high-end homes fall way behind on their mortgage payments, foreclosure is not a foregone conclusion. Lenders can be more willing to craft a new payment plan to make high-dollar … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 33 Comments

For Sale, Includes Toilets

Posted on February 13, 2013 by grim

From Bloomberg: Pipe-Swipers Take Toilets as U.S. Homes With Plumbing Ebb Bill Heaney gets about two calls a day from people who bought foreclosed, vacant Detroit homes that lack basic plumbing — victims of thieves who strip pipes, water heaters … Continue reading →

Posted in Foreclosures, National Real Estate | 96 Comments

NJ HomeKeeper hits its stride

Posted on February 13, 2013 by grim

From the Record: Foreclosure-prevention loans helping more in NJ, state says Once criticized as ineffective, the state’s main foreclosure-prevention effort has improved its performance and is now helping 250 troubled homeowners each month, Lt. Gov. Kim Guadagno announced Tuesday. The … Continue reading →

Posted in Economics, Foreclosures, New Jersey Real Estate, Risky Lending | 60 Comments

Sandy foreclosure moratorium extended 90 days

Posted on February 1, 2013 by grim

From HousingWire: FHFA, HUD extend foreclosure relief for Sandy Victims Federal Housing Finance Agency Director Ed DeMarco and HUD Secretary Shaun Donovan said the federal housing agencies will extend foreclosure protections for homeowners displaced or negatively impacted by Hurricane Sandy. … Continue reading →

Posted in Foreclosures, New Jersey Real Estate, Shore Real Estate | 98 Comments

Walking away about to get easier

Posted on January 28, 2013 by grim

From Bloomberg: Fannie Adds Bailout For Underwaters Walkaways Fannie Mae and Freddie Mac will let some borrowers who kept up payments as their homes lost value erase their debts by giving up the properties, helping Americans escape underwater loans while … Continue reading →

Posted in Economics, Foreclosures, Mortgages, National Real Estate | 113 Comments

What’s the right timeframe to resolve a foreclosure? Fast or slow?

Posted on January 23, 2013 by grim

From Bloomberg: New York Protecting Defaulters Stalls Rebound: Mortgages New Yorkers Paul and Angelica Kashman, declared in default on their mortgage in July 2010 and foreclosed on by Wells Fargo & Co. (WFC) in February 2011, say they aren’t deadbeats. … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, National Real Estate | 88 Comments

No end to the foreclosures? Does it matter?

Posted on January 17, 2013 by grim

From the Philly Inquirer: Foreclosure filings fell nationally in 2012, but not locally, research shows Foreclosure filings fell 3 percent nationally in 2012 from 2011’s levels and were 36 percent below their 2010 peak, RealtyTrac reported Thursday. Filings did increase … Continue reading →

Posted in Foreclosures, National Real Estate, New Jersey Real Estate | 161 Comments

Sandy strikes again

Posted on January 15, 2013 by grim

From Bloomberg: Mortgage Delinquencies Jump in Areas Hit Hard by Sandy Mortgage delinquencies have jumped about four times the U.S. average in areas of New York, New Jersey and Connecticut that were damaged by Hurricane Sandy, according to Lender Processing … Continue reading →

Posted in Foreclosures, Shore Real Estate | 135 Comments

Shadow shrinks, but still large enough to loom over Jersey

Posted on January 3, 2013 by grim

From HousingWire: Shadow inventory contracts as investors snap up foreclosures Current residential shadow inventory continued to fall from peak levels, CoreLogic said in a third quarter report. Shadow inventory shrank to 2.3 million units in October, which represents a supply … Continue reading →

Posted in Economics, Foreclosures, Mortgages | 96 Comments

New bailout plan has Treasury subsidizing refis

Posted on December 17, 2012 by grim

From Bloomberg: Treasury Plan Would Cut Rates on Some Mortgages in Bonds Some struggling homeowners left out of current U.S. government mortgage-aid programs because their home loans have been packaged into private securities could see their interest rates cut through … Continue reading →

Posted in Economics, Foreclosures, Mortgages, National Real Estate | 155 Comments

Fewer properties entering the foreclosure pipeline

Posted on December 13, 2012 by grim

From MarketWatch: Foreclosure starts lowest since 2006 The number of homes entering the foreclosure process in November was at its lowest level since December 2006, according to data released on Thursday by RealtyTrac. Foreclosure starts fell by 13% last month, … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, National Real Estate | 106 Comments