How someone can avoid foreclosure
August 14, 2023
There are a number of government programs available to help people avoid foreclosure. These programs can provide financial assistance, counseling, and other resources to help homeowners who are struggling to make their mortgage payments.Some of the most common government programs for avoiding foreclosure include:Making Home Affordable (MHA): This program offers a variety of loss mitigation options to help ...
What are the steps a home goes through in Foreclosure?
July 15, 2023
The foreclosure process can vary depending on the state, but there are some general steps that all homes go through.Step 1: DefaultThe first step in foreclosure is when the borrower defaults on their mortgage payments. This means that they have missed two or more consecutive payments. Once the borrower is in default, the lender will send them a ...
The Exchange: The Way Forward
December 29, 2022
Prior to joining the Fed in 2007, Larry Cordell worked in the mortgage industry at Radian Group and Freddie Mac. Upon joining the Fed, Cordell was a special advisor during the financial crisis and focused on several key Federal Reserve System initiatives, including the conservatorship of Fannie Mae and Freddie Mac, the Supervisory Capital Assessment Program (SCAP), and the ...
U.S. Foreclosure Starts Reach Pre-Pandemic Levels Nationwide
September 15, 2022
llinois, Delaware and South Carolina had the Highest Foreclosure Rates; Completed Foreclosures Increase 28 Percent from Last Month...RVINE, Calif. — September 8, 2022 — ATTOM, a leading curator of real estate data nationwide for land and property data, today released its August 2022 U.S. Foreclosure Market Report, which shows there were a total of 34,501 U....
Extremely Delinquent Mortgagors Struggling to Recover
May 13, 2022
Extremely Delinquent Mortgagors Struggling to RecoverThe nation’s delinquency rate in the U.S. in Feb 2022 hit its lowest recorded point since January 1999 according to CoreLogic. In February 2022 it is report that some of 3.2% of all mortgages in the country were in some stage of delinquency. This is defined as being at ...
Extremely Delinquent Mortgagors Struggling to Recover
May 13, 2022
Extremely Delinquent Mortgagors Struggling to RecoverThe nation’s delinquency rate in the U.S. in Feb 2022 hit its lowest recorded point since January 1999 according to CoreLogic. In February 2022 it is report that some of 3.2% of all mortgages in the country were in some stage of delinquency. This is defined as being at ...
2022 FORECLOSURES
March 18, 2022
Foreclosures Will Likely IncreaseA recent report from ATTOM Data Solutions states that the current market won’t have to wait long to see an upswing in foreclosure activity since the moratorium on foreclosures was lifted in July 2021. Default notices, bank repossessions, and scheduled auctions spiked by 34% in the third quarter of 2021 and were 67% higher than ...
How the Moratorium’s End is Affecting Foreclosure Activity
September 13, 2021
Housing professionals have long been anticipating the response to the July 31 expiration of the federal moratorium on foreclosures. With August numbers coming in, analysts say there has indeed been a rise in foreclosure activity, but they do not expect a large influx. Borrowers across the nation collectively have record levels of home equity, and the sellers' market is ...
