New REO Inventory in 2011

RealtyTrac’s year-end report released Thursday shows foreclosure filings – including default, auction, and bank repossession notices – were reported on 1,887,777 U.S. properties in 2011. Of that total, 804,423 homes were taken back by lenders as REO. Last year’s tally of nearly 1.9 million properties with a foreclosure filing seems staggering, but it’s actually the …

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Valuations and Sales Discounts Eat Away at Foreclosure Proceeds

Low property valuations and steep sales discounts reduce the proceeds from liquidated loans by almost a third, according to Moody’s Investors Service. As home prices drop, equity erosion drives most of the losses incurred on defaulted mortgage loans, but the analysts at Moody’s say in today’s environment that’s not the whole story. They maintain that …

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Getting a mortgage after foreclosure

There are some additional hurdles for homeowners who have gone through a foreclosure, short sale or bankruptcy, but a little patience and some financial hard work will go a long way. Buying a home is a challenging goal for most hopeful homeowners. But for those who have experienced a bankruptcy, foreclosure or short sale, the …

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Home Closing Timelines Increase, Especially in Distressed Market

Refinance applications and appraisal complications are holding up home sale closings, according to the Campbell/Inside Mortgage Finance HousingPulse survey released Monday. According to the report, the normal timeline for a closing is about 30 days. However, the recent HousingPulse survey found the timeline to be between 45 and 60 days. The delay is exacerbated among …

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