One of the most alarming aspects of the housing bubble crash was the staggering number of Americans who were underwater on their homes. In 2010, CoreLogic’s national data in the fourth quarter revealed that a shocking 23.1% of homes with mortgages were underwater, totaling just over 11 million homes. However, the situation has significantly improved [...]read moreShould we be worried about the number of underwater homes?
The Federal Housing Administration (FHA) on Friday published Mortgagee Letter 2024-08, which extends a foreclosure moratorium on the Hawaiian island of Maui through Aug. 4, 2024, for FHA-insured forward mortgages and Home Equity Conversion Mortgages (HECMs). The moratorium, initially scheduled to expire on May 6 after a previous extension, has been pushed out 90 days [...]read moreFHA extends foreclosure moratorium on Hawaiian island of Maui
In February 2024, the national delinquency rate for residential mortgages stood at 2.8%, marking an 0.2 percentage-point decrease from February 2023. The rate remained unchanged from January 2024, according to the latest CoreLogic Loan Performance Insights report. The data provider examined all stages of delinquencies to gain a complete view of the mortgage market and [...]read moreU.S. mortgage delinquency rates remain near historic lows: CoreLogic
The real estate market is experiencing a slight rise in foreclosure activity following an extended period of moratoria that paused any foreclosures during the pandemic. The uptick in foreclosures could signal homeowner distress due to recent difficult economic circumstances but also account for foreclosures that were in the pipeline prior to the pandemic. However, the [...]read moreForeclosures are rising, but it’s not yet alarming
Foreclosures remained relatively stable in the first quarter of 2024 and homeowners continue to hold significant equity. In March, there were 32,878 U.S. properties with a foreclosure filing, down less than 1% from the previous month and down 10% from a year ago. Meanwhile, 23,312 U.S. properties started the foreclosure process in March 2024, up [...]read moreU.S. foreclosure activity stabilized in March: Attom
Fannie Mae and Freddie Mac completed 43,903 foreclosure prevention actions in the fourth quarter of 2023, according to a new report published by the Federal Housing Finance Agency (FHFA). Over the course of 2023, the government-sponsored enterprises (GSEs) completed 192,897 foreclosure prevention actions. This brought the total to 6.905 million since the start of the [...]read moreFHFA assisted nearly 44,000 troubled homeowners in Q4 2023
Mortgage delinquencies improved again in February as prepayment activity increased moderately. The national delinquency rate eased to 3.34% in February, down from 3.38% in January, according to an Intercontinental Exchange (ICE) mortgage performance report released Thursday. February’s rate was also 11 basis points lower than it was a year ago. In February, serious delinquencies (loans [...]read moreBorrowers continue to be resilient as mortgage delinquencies recede
Home equity just hit an all-time high for Americans. And while this is great for homeowners, what effects could this have on the housing market? Will house hoarding become a new trend as homeowners “lock in” with their rock-bottom mortgage rates? Will those who are equity-rich take their profits and move to cheaper markets, causing [...]read moreUS Home Equity Explodes, Foreclosure Hopes Start to Dwindle
Everyone keeps talking about an incoming surge of home foreclosures. Over the past few years, online crash predictors shouted from the rooftops about how another foreclosure crisis is always on the way, and we’re only months from a full-on meltdown. How much of this is true, and how much of it is pure clickbait? We’ve got Rick Sharga, Founder and CEO [...]read moreWhy the Crash Predictors Are Wrong About a Foreclosure “Crisis”
In this article ATTOM’s Year-End 2023 U.S. Foreclosure Market Report shows that foreclosure activity increased last year from 2022 levels, but is this a cause for concern for investors? The ATTOM report shows that foreclosure filings, which include default notices, auctions, and repossessions, stood at 357,062, up 10% from 2022 and 136% from 2021. These figures look much less [...]read moreForeclosure Activity Increased in 2023—But What Do the Numbers Mean for Investors?