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Latest News and Opinion about Foreclosure and REO.
So here we are in 2012, and while the housing crisis is far from over, we seem to have passed the stage of being unsure just how damaged the market is. By now the wreckage has been assessed, understood, which leaves nothing left other than deciding how to move forward effectively. For the banks, right [...]
As of Q3 of last year, bank-owned REOs made up roughly 20% of all home sales across America. While this total is down from a year or two ago, it is still alarmingly high when compared to better times. More importantly, it appears that foreclosures will continue to make up a very healthy portion of [...]
It is no secret that the banks have more inventory on their hands than they know what to do with. This last year saw them enjoy a bit of a reprieve, with the robo-signing scandal slowing down the processing times and allowing the banks to help control housing values by not dumping all of the [...]
Faster than lightning, no one you see is smarter than he. At the height of the housing boom brilliant and resourceful flippers, people who buy homes, make a few cosmetic fixes and sell them off quickly for profit were making money hand-over-fist. But like so many high-flyers, most got too close to the sun and [...]
No matter where one’s political ideologies lie, hippies and fascists alike can agree that the housing market is in a shabby state. Prices are falling, foreclosures threaten to haunt inventory levels for up to a decade, and even though prices are low, accessibility is even lower due to economic hardship and harsh lending standards. Unsurprisingly, [...]
Freddie Mac, saddled with more REO foreclosure properties than they would like, have gotten into the spirit of the holiday season. Just like your nearest department store, Freddie Mac is offering a winter sales promotion. Yet instead of providing savings on classic holiday goodies like Red Ryder BB guns, they are offering deals on their [...]
The Center for Responsible Lending is a non-profit watchdog-type group that works to combat shady lending practices. They recently released a report after analyzing 27 million mortgages made between 2004-2008. The headline for the site and the report claims that the nation is not even halfway through the foreclosure crisis. This, after just last week [...]
According to Freddie Mac, Freddie Mac is on top of their game in every way when it comes to selling off foreclosure properties. Check out the stats below: • Freddie Mac’s sales cycle for its REO homes is about 120 days, which they attribute to their broker network. • 70% of Freddie Mac’s REO homes [...]
Often times, the “foreclosure pipeline” is discussed as an issue on a national, macroeconomic level. The housing data is all smashed together and out comes what the nation can expect with regards to foreclosures. At present, reports say 8. Overall, it reportedly will take the nation 8 years to work through the entire supply of [...]
Since 2007 there have been roughly 8.9 million homes lost to foreclosure. As housing experts, real estate professionals, lenders and speculators assess the damage, they often differ widely in terms of the role they see foreclosures playing on market behavior in the coming years. An article recently came out on HousingWire that takes a slightly [...]
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