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Banks report rise in mortgage delinquencies

Housing Wire

Home forfeiture actions, including completed foreclosure sales, short sales, and deed in-lieu-of- foreclosure actions also grew by 26.8% of the loans modified included a principal deferral, the OCC said. million first-lien residential mortgages with $2.6 trillion in unpaid principal balance, the report said.

Banks 397
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Will Forbearance Plans Lead to a Tsunami of Foreclosures?

Keeping Current Matters

Yanling Mayer, Principal Economist at CoreLogic , recently revealed : “A distributional analysis of forborne loans’ payment status reveals that more than one third (39.1%) of all forborne loans are now 150+ days behind payment, while as many as 1-in-4 (25.5%) are 180+ days past due.”. Though 29.4% Bottom Line.

Equity 294
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Have we found the bottom in existing home sales?

Housing Wire

From NAR : “In essence, the residential real estate market was frozen in November, resembling the sales activity seen during the COVID-19 economic lockdowns in 2020,” said NAR Chief Economist Lawrence Yun. I hear you; let’s dive deeper into today’s report.

Sales 531
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Advice on Short-Sale Transactions

The Residential Specialist

Experts who worked through The Great Recession of 2008 share how to handle tricky short-sale transactions. With its perfect storm of record-low property values and record-high unemployment, The Great Recession of 2008 triggered a rash of residential short sales. Short sales are not suited to all REALTORS ®.

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The "Home ATM" Mostly Closed in Q3

Calculated Risk Real Estate

Just compared to last quarter, the number of residential properties that fell into negative equity increased by 30,000 homes or 1.8%. Note the almost 7 years of declining mortgage debt as distressed sales (foreclosures and short sales) wiped out a significant amount of debt.

Closing 104
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Chicago Realtor: Marki Lemons Queen of Foreclosures

Realty Biz

ML: I’m a subject matter expert on foreclosures, short sales, technology and social media, and then I am a full time instructor in the State of Illinois, dealing with license law, pre-licensing, that sort of thing. We recently sat down with Marki to discuss her real estate career past and present.

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The "Home ATM" Mostly Closed in Q1

Calculated Risk Real Estate

In the first quarter of 2024, the total number of mortgaged residential properties with negative equity decreased by 2.1% Note the almost 7 years of declining mortgage debt as distressed sales (foreclosures and short sales) wiped out a significant amount of debt. trillion since the first quarter of 2023, a gain of 9.6%

Closing 64