September 2010

1. 28 Teak Bridge, Northwood $719,000 4 bed, 3 bath 2.8 Tioga Place, West Irvine $835,000 5 bed, 2.75 bath 3. 38 Apple Valley (N), Northpark $693,000 3 bed, 2.5 bath 4. 28 Willowhurst, West Irvine $825,000 5 bed, 2.5 bath 5. 5 Parma, West Irvine $778,000 5 bed, 3 bath 6. 60 Cape Cod, [...]

Lenders seized fewer homes in July for a third straight month, repossessing nearly 10% fewer homes than in June. Meanwhile, default notices filed against homeowners who have missed three or more house payments increased 9% last month from June’s levels. Both numbers, however, were down significantly from a year ago, apparently as lenders either seek [...]

On Saturday, we looked at the newest effort by the Obama administration to address the threat of foreclosures from borrowers who are underwater, or who owe more than their houses are worth. If it works well, the program could deal with the risks of strategic default, from homeowners who could afford to make their payments [...]

Each of the “big-four” banks, Bank of America, Wells Fargo, JPMorgan Chase and Citigroup released quarterly earnings reports for Q210 in July, reporting a total increase of $9.5bn in nonperforming or foreclosed properties from the same quarter last year. Each bank categorized the foreclosed properties into different definitions, and some include commercial properties. Bank of [...]

Investors and individual home purchasers who buy repo properties got a bit more discount during the month of May 2010. According to the latest housing market reports, the average discount offered by repo homes to buyers is 27%. This figure is in comparison with the same month of 2009. May also showed that people who [...]