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foreclosures

Jan Lindquist Named NAPW VIP Woman of the Year

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Jan Lindquist is a professional broker/owner of Minnesota REO Properties Inc. and has attained the highest level of membership to the National Association of Professional Women as a VIP Woman of the Year and has been recognized for outstanding leadership and commitment within her profession. At the time of its incorporation in 1999, Lindquist was elected president and CEO of Minnesota REO properties. She was elected as the majority stockholder in order to propagate the influence of woman owned corporations in the real estate industry.Click to continue

July Delinquency Rate Drops Nearly Nine Percent Year-Over-Year

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Lender Processing Services Inc. (LPS) has reported the following "first look" at July 2013 month-end mortgage performance statistics derived from its loan-level database representing approximately 70 percent of the overall market. Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) stood at 6.41 percent for the month of July, with a month-over-month change in delinquency rate of -3.96 percent, and year-over-year change in delinquency rate of -8.76 percent.Click to continue

The Truth Behind the Obama Mortgage Reform Plan

President Obama wants private banks to use depositor and investor funds to write 30-year fixed rate mortgages at affordable rates. He won't admit those goals and others imposed by Congress require the federal government to guarantee mortgages and banks against failure.

Mortgages require banks to borrow short and lend long. They pay depositors and investors interest rates that fluctuate and offer funds to homeowners at fixed rates for the duration of loans.Click to continue

FHA to Allow Troubled Borrowers to Reenter Market in Shorter Time-Frame

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The FHA’s latest Mortgagee Letter 13-26 "Back to Work - Extenuating Circumstances," begins with the following: “As a result of the recent recession many borrowers who experienced unemployment or other severe reductions in income, were unable to make their monthly mortgage payments, and ultimately lost their homes to a pre-foreclosure sale, deed-iClick to continue

July Foreclosures Plummet 32 Percent Annually Nationwide

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RealtyTrac released its U.S. Foreclosure Market Report for July 2013, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 130,888 U.S. properties in July, an increase of two percent from the 78-month low in June but still down 32 percent from July 2012. The report also shows one in every 1,001 U.S. housing units with a foreclosure filing during the month.

High-level findings from the report:Click to continue

Obama Targets Affordable Homeownership in Weekly Address

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President Barack Obama started off his weekly address this past Saturday discussing concerns of the past four years of economic downturn faced by the American people.Click to continue

Foreclosures and Delinquencies Rising in the Northeast

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“For most of the country, delinquencies and foreclosures have returned to more normal historical levels. Most states are at or only slightly above longer-term averages and some of the worst-hit states are showing improvement,” said Mortgage Bankers Association (MBA) Chief Economist and SVP of Research and Economics Jay Brinkmann. “For example, while 10 percent of the mortgages in Florida are somewhere in the process of foreclosure, this is down considerably from the high of 14.5 percent two years ago.”Click to continue

Obama Takes to Social Media to Address Housing Issues

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President Barack Obama, fresh off discussing the potential elimination of government-sponsored enterprises (GSEs)—Fannie Mae and Freddie Mac, discussed his housing plan online, fielding questions from Vine, Twitter and other social media outlets using the hashtag #AskObamaHousing for a Click to continue

Foreclosures Nationwide Drop 20 Percent Year-Over-Year in June

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CoreLogic has released its June National Foreclosure Report which provides data on completed U.S. foreclosures and the national foreclosure inventory. According to CoreLogic, there were 55,000 completed foreclosures in the U.S. in June 2013, down from 68,000 in June 2012, a year-over-year decrease of 20 percent. On a month-over-month basis, completed foreclosures increased 2.5 percent from the 53,000 reported in May.Click to continue