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RealtyTrac, the leader in foreclosure information, has released its foreclosure report for June 2009. Foreclosure filings and REOs are up 31% in one month and are up 7.3% over last year. In June, Tennessee had 2,782 foreclosure filings and 1,893 REO making Read More...
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Lenders have seized control of another Nashville condo project. The Rolling Mill Hill condominiums were forced into receivership Tuesday by a lawsuit filed by Bank of America on behalf of itself and other lenders. The suit also asks the court to allow Read More...
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May 2009 Stats % Change - 1 Month % Change - 1 Year Average Sales Price $ 169,900 +3.1% -10.6% Closings 1783 +10.0% -28.9% Inventory 24,408 +0.7% -2.0% Foreclosures 3,569 +2.9% -23.2% Read More...
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The pace of prime borrowers going into foreclosure is accelerating, especially in states with mounting unemployment or property values that saw a big run-up during the housing boom. It's a marked shift from earlier this year, when foreclosures were Read More...
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The Nashville area foreclosure rate climbed in April but was still below the national average, according to First American CoreLogic, a research firm. The group found the rate of foreclosures rose to .62 percent of outstanding mortages in April, up from Read More...
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Trulia announced today that 23.6 percent of current homes on the market in the United States have experienced at least one price cut, totaling $27.4 billion in reductions. The average price-reduced home has seen a listing price reduction of 10.6 percent. Read More...
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Clark Street Capital , a Chicago-based provider of asset management and advisory services, announced on Monday the launch of its Bank Asset Network . The company says the online portal is the first buyer-centric database of its kind offering a secure, Read More...
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Fitch Ratings took a closer look at servicers' loss mitigation efforts among residential mortgage-backed securities (RMBS) in a special report issued last week. The agency found that while home loan workouts to avoid foreclosures have increased substantially, Read More...
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Bank of America says it modified more than 64,000 Countrywide mortgages between December and March. The workouts are part of the bank's agreement with 42 state attorneys general to settle predatory lending charges against its Countrywide subsidiary. Read More...
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HOPE NOW announced this week that 270,000 homeowner solutions were completed in April. This is the largest number of workouts in any month since HOPE NOW began to compile data. Last month, HOPE NOW members and the mortgage lending industry modified 127,000 Read More...
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Foreclosures and mortgage delinquencies are still mounting and will continue to rise until the first quarter of 2011, driven primarily by increasing job losses, according to a new report issued by the Mortgage Bankers Association (MBA) on Thursday. The Read More...
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Fitch Ratings is slated to release a report this week showing that 65 percent to 75 percent of modified subprime loans will still fall behind by 60 days or more within one year of the loan change . Although some experts believe that reducing the principal Read More...
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President Obama signed housing legislation this week to revamp a government foreclosure prevention program and bolster prosecution of mortgage fraud. The provision that would allow bankruptcy judges to modify loans had been stripped from the bill after Read More...
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Redwood Real Estate Partners, Inc. , a real estate investment company based in Rancho Santa Margarita, California, announced on Wednesday that it has launched a new investment fund with the goal of acquiring $500 million in distressed residential real Read More...
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"There are fewer foreclosures in Williamson County than in the surrounding area," said Steve Jolly, who sells foreclosed properties for Century 21. He added: "This has affected everybody — all extremes of the socioeconomic scale." Read More...
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