Foreclosure Inventory Down 37% over Last Year!

According to the latest CoreLogic National Foreclosure Report, “approximately 660,000 homes in the US were in some state of foreclosure as of May 2014”. This figure is down 37% from the 1 million homes in May of 2013. May marked the 31st consecutive month in which there were year-over-year declines. Mark Fleming chief economist for […]

Taking the Spooky Feeling Out of Foreclosures

Today we are excited to have Joan Erni, as our guest blogger.  Joan is the Director of Business Development at Michael Saunders & Company, and wrote today’s post in response to last Wednesday’s blog post re: foreclosures. – The KCM Crew Buying a Foreclosure isn’t as Risky as You May Think, with the Proper Know-How […]

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10 Hidden Hazards When Buying Foreclosures

We are pleased to present, Amanda Kostina, as our guest blogger today.  Amanda is a writer for Whitefence.com. – The KCM Crew Buying a foreclosed home can seem like a dream. What could be better than getting a home for a fraction of the market value? Some may even say that the deals sound like […]

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Boomerang Homebuyers Get a Shorter Ride Home

Today, we are honored to have Jim Sahnger as a guest blogger. Sahnger is a 20 year veteran in the mortgage industry and is widely recognized for his expertise. His thoughts have been noted in Bankrate.com, Wall Street Journal, MarketWatch, Business Week and Investor’s Business Daily. – The KCM Crew HUD recently announced that people […]

Shadow Inventory: Beginning to See the Light

One of the key obstacles to a housing recovery over the past five years has been the overhang of distressed properties about to come to market which has come to be known as shadow inventory. Shadow inventory numbers are comprised of three separate categories of properties: properties where the home owner is 90+ days behind […]

‘Walking Dead’ and ‘Survivors’ in Real Estate

Over the last few years, new words have become part of our real estate vocabulary when discussing distressed properties. Terms such as ‘shadow inventory’, ‘cure rate’ and ‘short sales’ were introduced. Other words like ‘underwater’ and ‘upside down’ took on totally new meanings. Today, we want to add two additional words that we will be […]

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Mortgage Interest Deduction: By State [INFOGRAPHIC]

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Information from The Pew Charitable Trusts report: The Geographic Distribution of the Mortgage Interest Deduction

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WTH(eck)!?! More Crazy Real Estate Headlines

Number of Loans in Foreclosure Reaches a Three-Year Low Foreclosure Activity Rising in 2013 Both headlines above appeared in the media last week. The amazing part is that both headlines appeared on the same day and from the same media source (HousingWire)!! The first headline commented on the recently released Office of the Comptroller of the […]

Foreclosure Trends VERY Different in Different Markets

Last week, RealtyTrac released their Year-End 2012 U.S. Foreclosure Market Report™. The report revealed foreclosure trends over the past few years. Here are a few of the key findings: A total of 2,304,941 foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,836,634 U.S. properties in 2012, down 3 percent […]

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Shadow Inventory and Its Impact on Prices

Many analysts differ on what impact shadow inventory will have on house values in 2013. Some warn that these distressed properties will still play a major role in limiting appreciation. Others believe that the increases in buyer demand will more than offset the increase in supply. The only thing on which everyone agrees is that […]

Are Foreclosures Increasing or Decreasing?

Recent headlines have created tremendous confusion regarding the foreclosure situation in the country. Let’s give an example. Which of these two headlines are accurate? Foreclosure Starts Plunge to 71-Month Low Foreclosures Increase for the First Time Since 2010 The challenge is that both headlines are 100% accurate. How can foreclosures have increased for the first […]

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Will the Mortgage Forgiveness Act Be Extended?

The Mortgage Forgiveness Debt Relief Act of 2007 is set to expire at the end of the year. The act allows taxpayers to be excluded from paying taxes on forgiven debt in certain situations. As their website explains: “The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of […]

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Shadow Inventory Shrinking…in Most Regions

The Mortgage Bankers Association (MBA) released their 3rd Quarter Delinquency Survey last week. The report revealed that both the delinquency and shadow inventory numbers are improving. DSNews, reporting on the survey, explained: “The Mortgage Bankers Association noted in a Thursday report that a four-year low in serious mortgage delinquencies and a drop in the percentage […]

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Shadow Inventory Down…in Most States

CoreLogic, in their most recent foreclosure report, revealed that approximately 1.3 million homes, or 3.2 percent of all homes with a mortgage, were in the national foreclosure inventory as of August 2012 compared to 1.4 million, or 3.4 percent, in August 2011. Month-over-month, the national foreclosure inventory was unchanged from July 2012 to August 2012. […]

Completed Foreclosures Down…in Most States

According to the latest foreclosure report from CoreLogic, there were 57,000 completed foreclosures in the U.S. in August 2012, down from 75,000 in August 2011 and 58,000  in July 2012. Mark Fleming, chief economist for CoreLogic reveals: “August marks the fourth month in a row there were fewer completed foreclosures, which is more evidence that […]

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Foreclosure Challenges Migrating to Northeastern States

The most recent monthly Foreclosure Market Report from RealtyTrac was released last week. It confirmed what we have been stating for the last several months – foreclosures are increasing in states with a judicial process (especially in the Northeast) while at the same time are decreasing in non-judicial states. As stated in the report: “Foreclosure […]

Don’t Be Afraid of What Lurks in the Shadows

The Wall Street Journal is doing a series of articles on the impact shadow inventory will have on the housing market. In the first article, Shadow Inventory: It’s Not as Scary as It Looks, they address why no one should be overly concerned: “There are several reasons why the shadow inventory isn’t as scary as […]

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Judicial and Non-Judicial States

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In judicial states the foreclosure process must be handled through the state’s court system thus extending the timelines to bring a home to foreclosure.

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Foreclosures: What About the Children (Part 2)

Yesterday, we reported on the adverse impact foreclosures have had and will continue to have on the children of this country. Today, we want to talk about how parents can soften the effect. If you can’t keep your house, you must decide how to leave and determine the impact of your decision on your children. […]

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New Foreclosure Wave: What Will Be the Impact?

We reported two months ago that foreclosures will significantly increase this summer as a result of The National Mortgage Settlement. This month, both Reuters (Americans brace for next foreclosure wave) and CNNMoney (Flood of foreclosures to hit the housing market) concurred. However, we believe this increase in distressed properties will have a much different impact […]