Steve Jolly - The REO Expert for Greater Nashville

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 it the fifteenth highest state in the Nation.  One out of every 583 ...

Federal Housing Finance Agency Director James B. Lockhart today released FHFA’s latest Foreclosure Prevention Report detailing actions taken by Fannie Mae and Freddie Mac to prevent unnecessary foreclosures and keep people in their homes. The report includes loan modification data under FHFA’s Streamlined Modification Program, which ...

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 foreclosure on the three-building project on Hermitage Avenue.The lenders claims non-payment of a ...

 May 2009 Stats% Change  - 1 Month% Change - 1 YearAverage Sales Price$169,900 +3.1%-10.6%Closings1783 +10.0%-28.9%Inventory24,408 +0.7% -2.0%Foreclosures3,569 +2.9%-23.2%

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 driven by defaults on subprime loans. And it has major implications — ravaging the credit ...

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 .46 percent in April of 2008.The national average was 1.8 percent in April of 2009.   The ...

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. Nashville is ranked 29 of the 50 largest cities by percentage of listings with price ...

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, tailored venue for the investing public to purchase REO properties. Clark Street says that while ...

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, re-defaults post-modification continue to be a problem for servicers, investors, and ...

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. A bank spokesperson told Bloomberg News that the modifications made so far have reduced ...