The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed "short sales" of homes and other loan modification alternatives to stem a rising tide of foreclosures.
Seeing great potential both from short sales and the buyers who come forward to explore them, Realtors have been persistent. Short sales have increased from 11% of the market a year ago to over 15% today. As a result of a growing number of offers, more servicers and their lender clients have seen the wisdom of giving short sales greater priority.
REQUIRED READING: Speed and short sales are too seldom mentioned in the same sentence. Although they represent a viable solution for getting bad loans off the books and limiting loss severities for lenders and investors, short sales are famously plagued with delays and frustrations. real estate professionals, having seen deals blow up because servicers cannot [.]
Construction spending up 0.9% in May on surge in homebuilding (Hoya Capital Real Estate, Performance as of 4 pm Friday) The Hoya Capital Housing Index, an index that tracks the performance of the US housing industry, finished the week higher by roughly 3%, led.
The list seems endless and new ones emerge regularly. Thanks mostly to aggressive litigation tactics, many banks have been caught violating mortgage servicing and foreclosure laws numerous times. In 2012, the five largest mortgage servicers were ordered to pay $25 billion dollars to settle claims of abusive foreclosure practices.
CoreLogic: Completed foreclosures fall by 30% The national foreclosure inventory showed a year-over-year decrease of 18 percent, according to Corelogic’s national foreclosure report. In New York state, however, the year-over-year.2015 marks worst year for investor agility Marks dated this argument back to the Great Recession and the ensuing period, when the Federal Reserve cut interest rates and kept them "artificially" low until it started hiking again in late-2015.California’s housing affordability crisis isn’t going away C.A.R.’s traditional housing affordability index (hai) measures the percentage of households that can afford to purchase the median priced home in the state and regions of California based on traditional assumptions. C.A.R. also reports its traditional and first-time buyer indexes for regions and select counties within the state.
– Today the Consumer Financial protection bureau (cfpb) issued rules to establish new, strong protections for struggling homeowners facing foreclosure. The rules also protect mortgage borrowers from costly surprises and runarounds by their servicers. "For many borrowers, dealing with mortgage servicers has meant unwelcome surprises and.
So far, more than. a crushing mortgage. If troubled borrowers don’t qualify for a modification, their servicers must first evaluate whether the homeowners are eligible for a short-sale or.
Instead, paperwork delays. more homeowners by detailing their individual statistics in monthly reports, beginning in June 2009. Most recently, the administration added a program called Home.
While it's possible — and even common — for banks to short sale homes with liens. these liens often mean a much more lengthy and complicated short sale process.. Most title liens against homes with mortgages fall into two categories: liens. a process that can delay or even completely halt a short sale of the property.