Of the 50 U.S. counties with the risk for distressed properties, 31 are concentrated in four states, led by Florida, an Attom Data Solutions analysis found. Processing Content Florida is the home of 12 of those counties, with the No. 1 most at risk locale in the nation being Charlotte County. California was next with […]
31 of 50 riskiest housing markets cluster in 4 states Read More »
The U.S. foreclosure inventory as of the end of the first quarter was at its highest level in six years, with over three quarters of the nation’s metro areas reporting higher rates, Cotality’s latest Loan Performance Indicators report disclosed. Processing Content The foreclosure inventory rate rose for the first time in 15 months, with both
Foreclosure inventory rises in 1Q to six-year high Read More »
The number of homes abandoned during the foreclosure process, known as “zombie foreclosures,” increased in the majority of states this quarter, an industry report found. Processing Content Zombie properties rose quarter over quarter in 38 states and the District of Columbia, according to Attom’s latest Vacant Property and Foreclosure Report. Out of the 104.9 million
Zombie foreclosures rise in most states, report finds Read More »
Foreclosures fell in April compared with March, but still posted an annual gain for the 14th straight month, Attom reported Thursday. Processing Content Foreclosure filings, which include default notices, scheduled auctions and bank repossessions, were reported on 42,430 properties in the United States last month, down 8% from the month prior but up 18% from
Foreclosure filings up 18% from a year ago Read More »
The surge in delinquencies on Federal Housing Administration-insured loans transitioning away from pandemic leniencies drove dramatic divergence in the performance of different product types, according to the Mortgage Bankers Association. Processing Content A large 126 basis-point annual increase in FHA delinquencies to 11.88% pushed the total seasonally-adjusted rate for arrears for all loans up 40
FHA spike drives delinquency spread to widest point in years Read More »
You’ve probably seen the headlines saying, “foreclosures are on the rise,” and maybe your mind jumped straight to 2008. That’s understandable. A lot of people remember that crash and all the foreclosures that happened during that window, and they’re hoping something like that never happens again. But this isn’t a repeat of what happened back
What the Foreclosure Headlines Aren’t Telling You Read More »
Processing Content Key insight: The FHA tightened the screws on its borrowers by requiring a three-month trial payment period that is now fueling a surge in delinquencies. What’s at stake: Thousands of borrowers face massive balloon payments, negative equity and soaring taxes and insurance payments as pandemic-era relief options are exhausted. Supporting data: “We need
End of FHA pandemic relief to kick off wave of foreclosures Read More »
Foreclosures inched up in the first quarter and surged ahead of last year’s levels in a manner that points to a change in dynamics, Attom reported Thursday. Processing Content The 118,727 properties with filings represented a 6% on a consecutive-quarter increase and a level 26% higher than a year earlier, the data and analytics firm
Foreclosures ‘could signal shifting housing market dynamics’ Read More »
Prepayment speeds increased last month on the back of falling interest rates, but seriously delinquent loan volumes also rose the highest amount since June 2022, and the most since June 2018 when excluding the immediate effect of COVID-19. Processing Content The national delinquency rate ticked up seven basis points to 3.72% last month, as the
Seriously delinquent loans hit highest level since 2022 Read More »
Foreclosure activity continues to trend up nationwide, although it’s slowed to start the year. Processing Content The 38,840 properties across the country last month with either default notices, scheduled auctions or bank repossessions was down 4% from January, according to property analytics firm Attom. Those foreclosures, which represent 1 in every 3,701 housing units, are
Some Florida distress grows as broader foreclosures waver Read More »