Category Archives: Foreclosures

Not the lenders responsibility, except in NJ…

Posted on December 18, 2015 by grim

Again, NJ legislators lack awareness of their own unintended consequences. From the Star Ledger: 3-year foreclosure ban for Sandy victims headed to Christie’s desk A bill aimed at keeping thousands of Hurricane Sandy victims from entering into foreclosure for three … Continue reading →

Posted in Foreclosures, Mortgages, Politics, Shore Real Estate | 81 Comments

Of course the short-sale tax forgiveness will pass…

Posted on December 14, 2015 by grim

From the WSJ: Tax Break for Home Short Sellers at Risk Last-minute negotiations in Washington have left real-estate agents and sellers nervous about the possibility that distressed homeowners could receive an unwelcome tax hit. Congress has yet to reach an … Continue reading →

Posted in Foreclosures, National Real Estate, Politics | 59 Comments

Trenton and AC lead national foreclosures

Posted on December 11, 2015 by grim

From Reuters: Two New Jersey cities top November U.S. metro foreclosure rates Two New Jersey metropolitan areas, Atlantic City and Trenton, had the highest U.S. metro foreclosure rates in November, RealtyTrac data showed on Thursday. It was the fifth straight … Continue reading →

Posted in Foreclosures, New Jersey Real Estate, Risky Lending | 106 Comments

Recovery by next year?

Posted on December 10, 2015 by grim

From HousingWire: TransUnion: Mortgage market will completely recover next year The long, steady recovery from the housing crisis and the recession that followed is nearly over, with the consumer lending market, including mortgages, expected to recover completely in 2016, according … Continue reading →

Posted in Foreclosures, Housing Recovery, Mortgages, National Real Estate | 142 Comments

New Jersey and NY Metro Making Progress

Posted on December 9, 2015 by grim

This is probably the strongest showing yet, and finally good indication that NJ is making forward progress on reducing the number of foreclosures and outstanding mortgage delinquencies. For state foreclosure performance, you can see that NJ ranked second best in … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 82 Comments

Foreclosures Jump in October

Posted on November 13, 2015 by grim

From HousingWire: RealtyTrac: Foreclosure starts post highest jump in more than four years Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 115,134 U.S. properties in October, up 6% from the previous month. This is … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, New Jersey Real Estate | 91 Comments

GSEs failing again?

Posted on November 6, 2015 by grim

From HousingWire: Compass Point: Fannie Mae, Freddie Mac will need another bailout The disappointing third quarter results for Fannie Mae, which saw its net income cut in half, and Freddie Mac, which took a comprehensive loss of $501 million, have … Continue reading →

Posted in Economics, Foreclosures, Mortgages, Politics | 108 Comments

Will NJ ever recover?

Posted on October 15, 2015 by grim

From the Record: NJ leads the nation in foreclosure activity New Jersey continued to lead the nation in foreclosure activity in the third quarter, as the mortgage industry deals with a backlog of distressed properties in the state, RealtyTrac reported … Continue reading →

Posted in Economics, Foreclosures, New Jersey Real Estate | 165 Comments

Foreclosures decline, NJ still in foreclosure logjam

Posted on October 14, 2015 by grim

From MarketWatch: CoreLogic Reports 36,000 Completed Foreclosures in August 2015 CoreLogic…today released its August 2015 National Foreclosure Report which shows the foreclosure inventory declined by 25.2 percent and completed foreclosures declined by 20.1 percent compared with August 2014. The number … Continue reading →

Posted in Foreclosures, Housing Recovery, National Real Estate, New Jersey Real Estate | 110 Comments

Going out in style!

Posted on October 9, 2015 by grim

From the NY Post: Couple’s ‘last hurrah’ bash at foreclosed Hamptons house A couple that has lived at a multimillion-dollar East Hampton mansion since it was foreclosed on in May 2014 were finally given the boot on Thursday — but … Continue reading →

Posted in Foreclosures, Humor | 86 Comments

New Jersey’s Zombies

Posted on October 8, 2015 by grim

From HousingWire: Zombie foreclosures down 43% in third quarter from last year Precisely 20,050 U.S. residential properties in the foreclosure process — but not yet repossessed by the foreclosing lender — were vacant “zombie” homes as of the end of … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery | 59 Comments

Repossessions spike? REPOSSESSIONS SPIKE?!?!?!?!

Posted on September 18, 2015 by grim

More like “as repossessions finally begin moving from a grinding halt” (and that this is GOOD NEWS)… From the Star Ledger: N.J. foreclosure rate again ranks among top in U.S. as repossessions spike While the number of homes entering the … Continue reading →

Posted in Foreclosures, Housing Recovery, New Jersey Real Estate | 136 Comments

Shocker – Not foreclosing on delinquent homes means high delinquencies

Posted on August 18, 2015 by grim

From the Star Ledger: N.J. has highest rate of distressed mortgages in nation, study shows A greater share of residential mortgages in New Jersey were distressed at the end of the second quarter of this year than any other state … Continue reading →

Posted in Foreclosures, Politics, Risky Lending | 64 Comments

Mortgage delinquencies down 20% since last year

Posted on August 17, 2015 by grim

From HousingWire: TransUnion: Mortgage delinquency rates continue rapid decline The mortgage delinquency rate — the rate of borrowers 60 days or more delinquent on their mortgages — continued its rapid decline, falling to 2.72% in Q2 2015, according to TransUnion. … Continue reading →

Posted in Foreclosures, Mortgages, Risky Lending | 69 Comments

NJ 2016 Outlook

Posted on August 4, 2015 by grim

From Joel Naroff at NJ Business: The Naroff Review Overview: “New Jersey’s slow economic recovery continues, but broadening job gains hold out hope that the expansion is starting to pick up steam.” While New Jersey didn’t get hurt quite as … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, New Jersey Real Estate | 77 Comments