While the local year-to-year numbers show improvement, analysts say it’s way too early to write the final chapter in the foreclosure story. Shadow. loans are rolling into foreclosure at an.
Foreclosure filings dropped 5% over the first half of 2010 as lenders continue to delay proceedings to focus on short sale and loan modification efforts, according to RealtyTrac, an online.
· The consensus among economists is that foreclosures will continue to hit new records through mid-2010. There is also the issue of the "shadow inventory.
Demand for purchase loans is at its lowest level since. investors who are concerned about the so-called shadow inventory of 5 million to 7 million homes that are delinquent but not in foreclosure..
A few hours ago I wrote a rather downbeat post on the prospects for the US economy that continued the thoughts from an article I wrote in the New York Times. A number of other sources have confirmed.
Moody’s also noted two other factors are driving the improvement in shadow inventory: recent bulk sales and subservicing of seriously delinquent loans to special servicers. Although loans in foreclosure decreased in Q3, the average number of days loans remained in the foreclosure.
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RealtyTrac data shows the foreclosure rate for loans originated in 2009 is drastically lower than the rate on loans originated between 2004 and 2008. For loans originated in 2009 and beyond, the rate is less than 1 percent, while loans between 2004 and 2008 have a foreclosure rate that sits anywhere between 2-5 percent, Blomquist explained.
Your Resource for Foreclosure Properties. RealtyTrac offers a one-stop shop for homes buyers, investors, and other real estate professionals. You’ll get access to the largest selection of foreclosures, foreclosed homes for sale, MLS listings, auctions and bank-owned homes.. realtytrac provides robust property information and neighborhood data that will allow you to make better decisions about.
Modified mortgages re-enter shadow inventory – By next month the housing crisis will have cost 5,000,000 Americans their homes via foreclosures. distressed inventory still above 5,000,000. If we were to take a count of how many people lost their homes to foreclosure since 2006, that figure will reach 5,000,000 by the end of the year.
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What’s more, the so-called shadow inventory. lenders have also amassed a huge empire of homes resulting from foreclosures totaling more than 872,000 homes – almost twice as many as when the.