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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Educate and Care: Real Estate Professionalism Defined

For Agents’ Eyes Only… Each Thursday we will be posting a blog to help real estate professionals understand how they can better assist their buyers and sellers navigate the current real estate market. Hope you find the information helpful. – The KCM Crew As an agent, it is crucially important that we ‘have the heart […]

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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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The Mortgage Forgiveness Act: Will It Be Extended?

As the year winds down, we are getting more and more inquiries about the Mortgage Forgiveness Debt Relief Act of 2007 and whether or not it will be extended past its original expiration date of December 31, 2012. This is important as people who are selling their home through a short sale may be faced […]

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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 […]

Is a Picture Really Worth a Thousand Words?

There are some things that are almost impossible to explain without a graphic or visual. With complex issues, the value of using visuals cannot be over-exaggerated. A study measuring the importance of using visuals by the University of Minnesota concluded: Presentations using visual aids were found to be 43% more persuasive than unaided presentations. There are […]

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Judicial and Non-Judicial States

InfoGraphic

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.

Nearly 16M Homes Are Now Underwater

Zillow just reported that their data shows nearly 16 million homes in this country are now in a negative equity position where the house is worth less than the mortgages on the home. This number is dramatically higher than the approximate 11 million reported by other entities. Why the huge difference? Zillow professes to take […]

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Mortgage Forgiveness Debt Relief Act: Will It Be Extended?

Many of our readers have asked whether or not we believe the Mortgage Forgiveness Debt Relief Act of 2007 will be extended past its current expiration scheduled for the end of the year. As a reminder, the legislation ensures that homeowners who received principal reductions or other forms of debt forgiveness on their primary residences […]

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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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Foreclosures: What About the Children? (Part 1)

We were recently troubled by the findings of a research paper authored by Julia Isaacs of the Brookings Institute for the organization First Focus which was titled The Ongoing Impact of Foreclosures on Children. In the report, Ms. Isaacs quantified the number of children that have been impacted: 2.3 million children have already lost their homes […]

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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 […]

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Months’ Supply of Distressed Properties by State [INFOGRAPHIC]

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The months it would take to sell off all homes under distress or 90 days or more delinquent based on the current sales pace.

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REO to Rental Program: Its Impact on the Housing Market

There has been much talk about the government selling bulk foreclosures which will be converted into rentals. What will this actually mean to the housing market? For the answer to that question, we go directly to the 2/28/2012 Senate testimony of the person making the decisions on this subject: Edward J. DeMarco, Acting Director of […]