Category: Florida

Florida housing market

Mortgage Delinquencies Jump

By Mike Colpitts Homeowners in trouble on their mortgages jumped as more homes joined the long line of defaults in May showing another sign the U.S. economy is weakening, according to real estate analytics company Lender Processing Services. The slim 1.1% monthly jump in defaults is a troubling sign for the  U.S.  housing market, still… Continue reading Mortgage Delinquencies Jump

Foreclosures Jump Resumes After Robo-Signing Slowdown

By Mike Colpitts Foreclosure starts rose for the first time in more than two years in May, signaling a resumption of formal bank repossessions of homes with mortgages in default after months of slower foreclosures. Initial filings were lodged against 205,990 U.S. residential properties, according to RealtyTrac. The increase accounted for a 9% hike in… Continue reading Foreclosures Jump Resumes After Robo-Signing Slowdown

Shadow Inventory Declines, But Still Looms

By Mike Colpitts The shadow inventory or the number of homes that lurk uncounted by banks and other mortgage lenders in the abyss of the troubled housing market is shrinking as banks offer more troubled homeowners, including landlords short sales for the first time since the U.S. housing crisis started. Estimates of the shadow inventory,… Continue reading Shadow Inventory Declines, But Still Looms

No Confidence in US Government to Aid Housing Market

Respondents to an online poll have given the U.S. government a no confidence vote when it comes to helping the housing market. An over-whelming majority of 84% who were surveyed said the government will not take major steps to help the housing market. The sweeping decision comes five years and more than 7 million foreclosures… Continue reading No Confidence in US Government to Aid Housing Market

Former Homeowners Not Applying for Aid

By Mike Colpitts More than 4-million former homeowners whose homes may have been foreclosed illegally by the nation’s largest banks have received letters from the U.S. government asking them if they would like their foreclosures to be reviewed. But so disillusioned by the banking industry and their own situations, the over-whelming majority have failed to… Continue reading Former Homeowners Not Applying for Aid

States Rip Off Foreclosure Victims

By Mike Colpitts Almost $1-billion targeted to victims of banking foreclosure fraud is being ripped off from foreclosure victims to be used to pay for other programs for states facing serious financial deficits. The nation’s largest five banks agreed to pay a $25 billion settlement as part of their agreement to settle allegations of illegal… Continue reading States Rip Off Foreclosure Victims

Bank of America Increases Short Sale Payments

By Ryan Jackson Bank of America, which has performed more foreclosures than any other single U.S. lender is raising the amount of money it pays delinquent homeowners to agree to a short sale. The program will pay any where from $2,500 to $30,000 in relocation assistance to qualifying mortgage holders. The program is hoped to… Continue reading Bank of America Increases Short Sale Payments

Pest Problems Bug Homeowners Early

By Ryan Jackson An over-whelming majority of homeowners are experiencing pest problems as a result of warmer weather in much of the U.S., according to a new study. Nearly half had problems with ants, while other bugs, including spiders and flies were most common. The study was conducted by Home Team Pest Defense, the third… Continue reading Pest Problems Bug Homeowners Early

Recovery Pushes Foreclosures Lower 3 Months

By Mike Colpitts In a sign the U.S. housing market is on the road to recovery, foreclosures dropped for the third month in a row in April, despite a traceable increase in repossessions along the eastern U.S. coast. Initial notices of default were filed against 188,780 residential properties, the lowest since July 2007. Final bank… Continue reading Recovery Pushes Foreclosures Lower 3 Months