As they have done in the past, Fannie Mae and Freddie Mac will spread a little Christmas cheer to homeowners in foreclosure over the holiday season. The GSEs announced a foreclosure moratorium on all single family and 1-4 unit multifamily homes during the period December 19 through January 2. Fannie Mae’s EVP of credit portfolio [...]
CNBC’s Diana Olick reports that foreclosures are requiring more time to be completed than ever. Lender Processing Services (LPS) has tracked the average time from first delinquency to foreclosure at 631 days. The differences are stark between non-judicial and judicial foreclosure states. The non-judicial states have half the inventory and move the process along at [...]
Nevada’s attorney general has filed fraud charges against title officers of Lender Processing Services (LPS) for alleged robo-signing offenses. This comes on the heals of a story that Nevada’s new law requiring more stringent processing requirements for filing foreclosures had dropped October’s foreclosure filings in Clark and Washoe Counties in Nevada by 88%. The Michigan [...]
CNBC commentator, Diana Olick, notes in a recent Realty Check column that, although October existing home sales were higher by 1.4% than the previous month, the numbers belie what is really happening. First, home values continue to go down. One might reasonably expect that if sales are going up, prices will soon follow. That appears [...]
Google has created a foreclosure app. More than 1.5 million pre-foreclosures, auction homes and REOs are listed and located on Google maps in a new foreclosure application for Android smart phones that will be introduced at the National Association of Realtors® meeting this week in Anaheim. Visionary Apps first came out with a similar application [...]
Even though the U.S. Foreclosure Market Report™ for the third quarter of 2011 only shows an increase in foreclosure activity of 1% over the second quarter, RealtyTrac’s CEO, James Saccacio, sees reason to expect a new surge of filings. He commented: “Third quarter foreclosure activity increased marginally from the previous quarter, breaking a trend of three [...]
Flipping houses, whether they’re Short Sales or wholesale deals is really nothing but a time-honored business practice of buying low and selling higher within a short period of time. In business it is called the practice of arbitrage. There is nothing illegal with it so long as the Investor follows the rules. Understanding that it [...]
Short sale investing is a huge opportunity! The banks have loosened up and foreclosures are skyrocketing. If you’re buying investment properties, you need to watch this video! Check out this video and subscribe to my blog for all the latest real estate investing news and tips. For more training get my 5 day investing mini-course [...]
An internal audit by the Office of the Inspector General for the Federal Housing Finance Agency, the overseer of Fannie Mae and Freddie Mac, proves that the Agency knew about lax lender documentation and robo-signing problems by at least August 2009 and did nothing to control Fannie Mae’s network of attorneys processing foreclosure paperwork until [...]
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