Category Archives: Foreclosures

Foreclosures continue decline in April

Posted on May 12, 2011 by grim

From CNN/Money: Foreclosures down for 7th straight month The number of foreclosure filings issued in April plunged 34% from a year ago — the seventh straight month of declines. And there were just 69,532 homes repossessed last month, a 32% … Continue reading →

Posted in Foreclosures, National Real Estate | 220 Comments

Squatter Rent???

Posted on May 6, 2011 by grim

From Bloomberg: ‘Squatter Rent’ May Boost Spending as U.S. Mortgage Holders Bail Melissa White and her husband stopped paying their mortgage in May 2008 after it reset to $3,200 a month, more than double the original rate. That gave them … Continue reading →

Posted in Employment, Foreclosures, National Real Estate, Risky Lending | 115 Comments

Best borrowers take the biggest hits

Posted on April 24, 2011 by grim

From the NYT: Fallout From a Poor Credit Score IF you want to see how quickly you can ruin a great credit score, just skip a mortgage payment. … Missed mortgage payments, serious loan delinquencies, loan modifications, short sales, foreclosures … Continue reading →

Posted in Foreclosures, National Real Estate, Risky Lending | 140 Comments

Mortgage delinquencies fall – Jersey near top

Posted on April 20, 2011 by grim

From HousingWire: National delinquency rate drops again in March: LPS The national delinquency rate continued to fall in March, according to the “First Look” report from Lender Processing Services, down to 7.8%. The report provides month-end mortgage performance statistics from … Continue reading →

Posted in Foreclosures, National Real Estate, Risky Lending | 221 Comments

Casting a shadow on the recovery

Posted on April 15, 2011 by grim

From HousingWire: New York shadow inventory extends past ten years (click to enlarge) The shadow inventory in the state of New York — properties with mortgage borrowers more than 90 days delinquent — will take around 154 months to clear. … Continue reading →

Posted in Economics, Foreclosures, National Real Estate, New Jersey Real Estate | 339 Comments

Foreclosures drop sharply, but not because the market is improving

Posted on April 14, 2011 by grim

From CNN: Foreclosures off 30% this year On the surface, the foreclosure crisis seems to be easing. The number of foreclosure notices filed during the first three months of 2011 fell 27% compared with the first quarter of 2010, according … Continue reading →

Posted in Foreclosures, Housing Bubble, National Real Estate | 209 Comments

Corelogic: Shadow inventory still very high, especially in NJ

Posted on March 31, 2011 by grim

From USA Today: 1.8M ‘distressed’ homes could weigh on home prices for years The U.S. had 1.8 million distressed homes in January that had yet to be listed for sale, a “shadow inventory” that is expected to weigh on home … Continue reading →

Posted in Economics, Foreclosures, Housing Bubble, National Real Estate | 169 Comments

Just when you thought we’d finally started dancing at the bottom

Posted on February 21, 2011 by grim

From Yahoo News: New Jersey Foreclosures Expected to Rise 20 Percent in 2011 CBS’s New York affiliate reported that despite improvements in the economy, foreclosures in New Jersey are expected to increase 20 percent this year. Kevin Wolf, who works … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 120 Comments

NJ Foreclosure Timeline Shocker – 849 Days from Default to Sheriff Sale

Posted on February 13, 2011 by grim

From the Press of Atlantic City: Bottom Lines: Foreclosures in New Jersey now take an average 849 days We have started to feel the consequences of the robo-signing controversy. There was nationwide concern that the expedited processing set up by … Continue reading →

Posted in Economics, Foreclosures, Housing Bubble, New Jersey Real Estate | 114 Comments

NJ delays foreclosure hearing again

Posted on February 10, 2011 by grim

From the Star Ledger: Foreclosure court hearing postponed a third time For the third time in nearly a month, the state has postponed a hearing for six of the country’s biggest mortgage lenders that have been called to court to … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 68 Comments

Calls to scrap failed HAMP program grow louder

Posted on January 27, 2011 by grim

From USA Today: Inspector general: Mortgage modification program a ‘failure’ A mortgage modification program aimed at saving homeowners from foreclosure has failed because regulators are “afraid to rein in or impose penalties on the mortgage servicers” whose record “has been … Continue reading →

Posted in Foreclosures, National Real Estate, Politics, Risky Lending | 161 Comments

Never saw this one coming

Posted on January 24, 2011 by grim

Not from our area, but I couldn’t help but stop to read this article this morning. From the St. Petersburg Times: Even Habitat for Humanity sometimes has to foreclose Thousands of lenders are filing foreclosure lawsuits all over the country, … Continue reading →

Posted in Economics, Foreclosures, Mortgages, National Real Estate | 100 Comments

Wave of foreclosures coming in 2011?

Posted on January 14, 2011 by grim

From CNBC: The Foreclosure Dump It’s coming, no question. Today’s report from RealtyTrac serves as a warning to big banks, Fannie, Freddie and local communities; The foreclosure glut is coming, and they’d better be ready to get rid of that … Continue reading →

Posted in Foreclosures, Housing Bubble, National Real Estate | 189 Comments

Cleaning up the robosigning mess

Posted on January 9, 2011 by grim

From HousingWire: Vermont and New Jersey pass emergency amendments to foreclosure law Vermont and New Jersey recently enacted emergency amendments to each state’s foreclosure law that require a case plaintiff to more extensively validate and verify the accuracy of the … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 124 Comments

Zuckerman: Home prices to decline for years

Posted on January 4, 2011 by grim

From CNBC: Home Prices Will Decline for Years: Zuckerman Home prices will continue to decline for several years, Mort Zuckerman, the chairman and CEO of Boston Properties, told CNBC Monday. “I’m pessimistic about residential real estate,” said Zuckerman, whose firm … Continue reading →

Posted in Foreclosures, Housing Bubble, National Real Estate | 128 Comments