Category Archives: Foreclosures

Christie signs bill to expedite foreclosures

Posted on December 8, 2012 by grim

From NJBIZ: Experts react to N.J. bill to expedite foreclosure of vacant homes State lawmakers have scored a partial victory in their bid to tackle New Jersey’s foreclosure crisis, after Gov. Chris Christie signed a bill that would expedite the … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 60 Comments

Foreclosure (and short sale) machine still grinding

Posted on December 6, 2012 by grim

From Reuters: US Foreclosure Sales Pick Up in Third Quarter More U.S. homes in foreclosure were sold in the third quarter as lenders dealt with distressed properties at an earlier stage of the process, data from RealtyTrac showed on Thursday. … Continue reading →

Posted in Economics, Foreclosures | 129 Comments

NJ Foreclosures up 140%, does it matter?

Posted on November 15, 2012 by grim

From the Record: Foreclosure filings rise in NJ Lenders continued to ramp up foreclosure activity in New Jersey last month, as mortgage companies worked through the backlog of cases that piled up in the wake of accusations that lenders were … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, New Jersey Real Estate | 154 Comments

Foreclosure a big bargain? Maybe not.

Posted on November 13, 2012 by grim

From HousingWire: Falling REO inventory dries up foreclosure discounts Some metro areas across the U.S. are experiencing steep discounts on foreclosed properties – upwards of 27% in some cases – but the overall mark-down is not as deep as it … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery | 189 Comments

More than a million short sales

Posted on October 16, 2012 by grim

From Mortgage News Daily: HOPE NOW: Short Sales Top 1 Million HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors, reported that its participants completed an estimated 75,968 permanent loan modifications during August. … Continue reading →

Posted in Foreclosures, Mortgages, Politics | 147 Comments

Wave is coming, but how big?

Posted on October 9, 2012 by grim

From the Record: New York Fed predicts NJ bank repossessions will rise The number of New Jersey homes repossessed by lenders may increase by 49 percent, and maybe by as much as 140 percent, by the end of 2013, depending … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, New Jersey Real Estate | 222 Comments

Dems pound Christie on HomeKeeper mismanagement

Posted on September 27, 2012 by grim

From the Record: Democrats say NJ’s foreclosure prevention program falls short The state’s main foreclosure prevention effort – the HomeKeeper program – has used less than 10 percent of its federal funding since it was started in May 2011, drawing … Continue reading →

Posted in Economics, Employment, Foreclosures, New Jersey Real Estate | 141 Comments

Hey Christie – How about focusing a little bit on NJ now?

Posted on September 19, 2012 by grim

From Bloomberg: New Jersey Housing Suffers as Defaults Exceed Nevada: Mortgages New Jersey’s judicial review of all foreclosures, which delays seizures to help borrowers, threatens to hold down prices for years as properties remain subject to repossession and then may … Continue reading →

Posted in Economics, Employment, Foreclosures, New Jersey Real Estate | 144 Comments

Inept banks blamed for poor HAMP performance

Posted on September 17, 2012 by grim

From the Huffington Post: Banks’ Disorganization Pushed 800,000 Homeowners Into Unnecessary Foreclosure: ProPublica Over the past several years, we’ve reported extensively on the big banks’ foreclosure failings. As a result of banks’ disorganization and understaffing — particularly at the peak … Continue reading →

Posted in Foreclosures, Mortgages, National Real Estate, Risky Lending | 111 Comments

Foreclosures up, but still at a very low level

Posted on September 13, 2012 by grim

From the Philly Inquirer: Foreclosure filings up in Pa., N.J., other states States that process home foreclosures through the courts, including Pennsylvania and New Jersey, experienced an increase in filings in August over July’s levels, RealtyTrac, which tracks foreclosures nationwide, … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 191 Comments

Foreclosure on your street? Go mow their lawn.

Posted on September 12, 2012 by grim

From the IB Times: US Foreclosures Have Modest Impact On Nearby Home Prices: NBER Foreclosed properties in the U.S. only modestly depress the home prices of nearby properties, and the effects vanish a year after the distressed property is resold, … Continue reading →

Posted in Foreclosures, National Real Estate | 144 Comments

Dems seek HARP expansion

Posted on September 11, 2012 by grim

From HousingWire: Senators bargain on HARP expansion Senate Democrats reintroduced a bill to expand refinancing for an estimated 13.5 million Fannie Mae and Freddie Mac mortgage borrowers. Sens. Robert Menendez, D-N.J., and Barbara Boxer, D-Calif., will keep the origination cut-off … Continue reading →

Posted in Foreclosures, Mortgages, Politics, Risky Lending | 99 Comments

1 in 11 homes sold in NJ a foreclosure

Posted on August 31, 2012 by grim

From the Record: One in 11 NJ homes sold in second quarter were in foreclosure One in every 11 sales in New Jersey in the second quarter involved a foreclosed property, compared with almost one in every four nationally, RealtyTrac … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 133 Comments

Foreclosures? No big deal.

Posted on August 27, 2012 by grim

From HousingWire: Studies find home prices and crime rates not greatly impacted by foreclosures Furthermore, foreclosures have been portrayed as death knells for neighboring property values, but a recent working paper from the Federal Reserve Bank of Atlanta says home … Continue reading →

Posted in Foreclosures, Housing Recovery | 97 Comments

Weekend Open Discussion – Deadly Foreclosures Edition

Posted on August 24, 2012 by grim

From the LA Daily News: Studio City woman says fetid pool in foreclosed home gave her West Nile virus Debbie Davis first noticed the algae-green pool behind the foreclosed house next door last spring and knew it could spawn West … Continue reading →

Posted in Foreclosures | 108 Comments