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Lenders Slow Foreclosures By 5% in 2010, Boosting Shadow Inventory: RealtyTrac

FDIC sues 12 banks over mortgage bonds sold to Colonial S. Carolina Supreme Court: Non-attorneys can modify home loans The coalition of pension funds called for the banks’ Audit Committees to launch independent examinations of their loan modification. s long-term interests. Also in the news last week was a decision.There has been a solid improvement in the ratio since its all-time low in December, showing that bond investors are growing more confident and have started opting for more speculative bonds over high.

Total housing inventory at the end of july fell 1.7 percent to 3.65 million existing homes available for sale, which represents a 9.4-month supply at the current sales pace, up from a 9.2-month supply in June. And don’t forget about the “shadow inventory,” or looming foreclosures.

On a non-seasonally adjusted basis, in March, the 20-city home price index fell 0.5 percent. over-year gains. housing prices rebounded from crisis lows, but recently have seen renewed weakness as.

The five states with the highest foreclosure inventory as a percentage of all mortgaged homes after Florida were: New Jersey (7.3 percent), New York (5.3 percent), Illinois (5.2 percent) and Nevada (4.9 percent). CoreLogic also focused on 25 city areas in its September report, two of which are in Florida:

 · Purchases of existing houses dropped a less-than-forecast 5.1 percent to a 5.37 million annual rate, figures from the National Association of Realtors showed today in Washington.

Kansas Foreclosures Jump, but State Still Ranks Low (Kansas.com, Apr. 18th): "RealtyTrac: There were 447 foreclosures in Kansas last month, a 5.6%. Foreclosure’s Shadow Falls Across Diverse Set of.

Demand remains weak, loans are increasingly difficult to qualify for and the shadow inventory. US foreclosure filings fell to the lowest level in three years in the first quarter amid a lender.

PMI Expects Lower Housing Prices in 2011 Initial jobless claims rise by 12K to 293K U.S. initial jobless claims fell 12k to 215k in the week ended march 24 after rising. Employment numbers, which are only available until January show a rise in the total of 762K over the year. UK.”We expect Miami values to return to positive growth eventually, but it’s possible you will see values continue to drop through the end of 2019,” she said. Lower home values results in sellers having.

The headline is comforting – “foreclosure inventory down 33% from a year ago.. a plunge of 64.9% from the peak of completed foreclosures in September 2010. The real estate marketing firm RealtyTrac reports 234,685 properties. some to warn that a shadow inventory of distressed properties has yet to hit the market.

RealtyTrac, the online marketer of foreclosed homes, reported that one in 45 households — or. delays in processing delinquent loans," said RealtyTrac CEO James Saccacio in a prepared statement.. the foreclosure process and an overwhelming volume of inventory. Last chance to refinance below 5%.

Michigan to get $75 million more to fight blight LANSING – The federal government is sending about $188 million more to Michigan that can be used to help eliminate blight in the state’s communities, Flint to get more funds to fight blight

Lenders may have inventory of foreclosed homes that have not been released yet. It may be that the process is taking longer, and the REO departments cannot handle the volume, some may have title issues, some might be in a short sale process, or some may be occupied by tenants that just were granted a whole slew of rights through Protecting.