Foreclosures Down to 69,000 in March, Inventory Also Down

“Year-over-year, the number of completed foreclosures decreased about 19 percent to 69,000 in March 2012 compared to 85,000 in March 2011, according to CoreLogic’s National Foreclosure Report for March. Month-over-month, with the number of completed foreclosures in February 2012 at 66,000, foreclosures increased about 4.5 percent in March 2012. On a quarterly basis, foreclosures decreased …

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February modifications and foreclosures down

HOPE NOW, a private sector alliance of mortgage servicers, investors, mortgage insurers, and non-profit counselors, estimated 45,000 homeowners received permanent, non-HAMP loan modifications from mortgage servicers during February 2012, down from 56,000, or 20 percent, compared to the month before in January. While modifications were down, foreclosure sales and foreclosure starts also declined on a …

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President Obama on Loan Modifications

President Obama has made a public call for mortgage lenders and servicers to provide struggling homeowners with longer-term modifications and principal reductions when it fits the situation. Referring to the American taxpayers’ bailout of the banking system, which the president described as probably the most unpopular thing the government has ever done, Obama said, “[W]e …

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Record Number of Foreclosures Cancelled in California

The number of foreclosure sales that were cancelled in California hit an all-time record in June, according to a report released Tuesday by ForeclosureRadar, a locally based company that tracks every foreclosure in the state and provides daily auction updates. The company characterized foreclosure activity in the Golden State as “mixed” last month, with filings …

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