Housing Market Tracker - Featuring: Countrywide Foreclosure Tours! 16 comments
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"We know the industry, the market, the lenders, and the methods to fight foreclosure and, whenever possible, save a consumers home... We know the techniques to minimize the financial consequences. We also do it for a lot less." - Andrew Liput, Founder of Mortgage Help Now, an affiliate of The Liput Group. The new company is made up of former mortgage industry executives and lawyers and offers help for homeowners in distress.
Foreclosure Data
New Md. Rules Aim To Aid Those Facing A Risk of Foreclosure. "Citing an "alarming" rate of mortgage foreclosures in Maryland, Gov. Martin O'Malley announced emergency regulations yesterday requiring loan service companies to tell the state when residents are in danger of losing their homes so the government can offer preemptive help. O'Malley said the mortgage industry has failed to help troubled homeowners, pointing to poor customer service at major loan service companies, which... are authorized to negotiate and modify loan terms. .. The rate of foreclosure actions has soared across Maryland, with the Washington suburbs hit hardest. The number of foreclosures in Montgomery and Prince George's counties doubled between Q3 & Q4'07."
Housing: Is it Going to Get Worse Before it Gets Better? "DataQuick: A record 34% of resale homes last month were previously in foreclosure and 9% were in default. Nearly half of all resale houses and condominiums were sold at a loss from when they were last purchased. The median loss was about 25%. In January 2007, 5.3% of resales had been in foreclosure. The December figure was 31.2%... Despite the percentage of sales that were homes in foreclosure skyrocketing from 5.3% to 34% in one year, the total sales of existing homes were down 33.5%... [Therefore,] excluding homes sold in foreclosure... regular home sales fell 50%!"
Colorado Foreclosures Up 40 Percent In 2007. "Colorado Division of Housing: Foreclosures in Colorado shot up 40% in 2007 compared to 2006. Public trustees in Colorado reported 39,915 foreclosures last year, including 10,955 in Q4. That is 11,400 more than the record set in 2006. Statewide, one out of every 45 households entered foreclosure, which typically happens after a homeowner misses three consecutive payments on a mortgage... There were 25,320 foreclosure sales last year, compared to 17,451 in 2006."
Plan Targets Blight from Foreclosures. "Bakersfield code enforcers would work with local real estate agents to track foreclosed homes -- in an effort to limit blight -- under a plan approved Tuesday by [the] City Council. Under the plan, the Bakersfield Association of Realtors would share its data on what homes are in foreclosure. That would help the city watch the properties and track down owners faster, said Phil Burns, city building director... When the city tries to get a lender to clean up, it's difficult to penetrate the company's bureaucracy. The local association would help the city identify the local agent handling the property."
Local Housing Market Shows Mixed Signals. Missouri: "Missy Palitzsch, sales and marketing manager for Continental Title in St. Peters, said foreclosures in St. Charles County rose 10%-15% from 2006 to 2007. That was a greater rise than from 2005 to 2006, Palitzsch said, though she did not cite numbers."
More Pets Being Abandoned After Foreclosures. Georgia: "Gwinnett County animal advocates say they've seen a marked increase in the number of abandoned animals that they believe is linked to the spike in foreclosures. According to Equity Depot, the county had 8,191 foreclosures last year, up from 5,122 in 2005... Joan Sammond, director of the Georgia SPCA: "A lot of people don't even want to admit it's because of foreclosures," Sammond said. "Most of them are established families with kids. . . . They say they're having to move in with relatives or to a rental that doesn't allow pets. We're just doing the math."
Real Estate Foreclosures Forecast to Double. "Housing Predictor is extending its foreclosure forecast into 2011... The number of U.S. foreclosures will even become higher over the next few years. The original foreclosure forecast issued by Housing Predictor, which tracks and forecasts more than 250 local housing markets in all 50 states [originally] called for more than 2.5 million foreclosures in the nation through 2009, [and then] increased to more than 3-million. Housing Predictor is nearly doubling that forecast as the credit crunch combined with rising unemployment and weakening consumer confidence damages real estate markets in the overwhelming majority of the country."
Duluth Lender Plans 'Foreclosure Tour'. Minnesota: "Anecdotal reports from real estate agents indicate 150 or more houses are in some stage of foreclosure in the Duluth area, which is why Mike Locker and Gloria Allan of Countrywide Financial (CFC), a nationwide mortgage lender, decided to experiment with a "Parade of Foreclosures" tour in February and March... Houses on the tour won't necessarily be owned by Countrywide. Foreclosure tours are big in areas that have large numbers of foreclosures, such as California, but this is the first time the concept has been tried in Duluth, Locker said."
Investing In Foreclosed Real Estate. "Some foreclosed homes are new... not as easy to identify and rarely appear on national lists. The slow economy has left many builders of new mid-scale and upscale homes without a market to purchase them. With thousands of homes for sale in every city, some builders have reached the end of their construction-loan periods without finding buyers for their homes. In these cases, the banks that issued the construction loans take possession of the homes and attempt to sell them. These are "hidden" foreclosures because no one associated with the sale of these properties will refer to them as foreclosed homes."
Local Foreclosures Rising. Florida: "Federal Deposit Insurance Corp.: As a stubborn real estate slowdown drags into its third year, banks and other financial institutions have nearly $10 billion worth of distressed property on their hands. That's almost double the inventory they recorded in 2006. The FDIC doesn't have a breakdown of its data for individual counties. However, real estate agents who specialize in bank-owned property estimated several hundred of the 6,600 homes for sale in Volusia and Flagler counties belong to banks. And with dozens of foreclosure sales adding to their inventory each week, banks are increasingly eager to get some of those properties sold."
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This article has 16 comments:
You think before Jesus was hung on the cross - The Pharisees
- Were saying things like this - To belittle Jesus ????
The Pharisees - Did send out people to try to embarase him !!!!
Kind of funny is it not 2000 years pass and we still have washington-insiders
- Just like the Pharisees of OLD ?????
just like as long as they got there high fees - why should they care if millions
of americans are home-less ........
NEW YORK (Reuters) - Democratic presidential candidate Hillary
Clinton, staggered by 10 voting losses in a row, ridiculed surging
rival Barack Obama on Wednesday as all talk and little substance
as she tried to slow his momentum.
Your wife - girlfriend - live in comes home - from shopping
- and the first words out of there mouths - Is your so lazy
you counldn't even take out the trash while I was gone ?????
Or any other job - You were given before she left ....
Your response is - I said I would do it - and I will after the
game - But she still looks at you like your some-kind - of something
She becomes ashamed of !!!!
WEll boys and girls look - At how easy those saying can be used in a
subliminal message - To use shame - for a movement !!!!
""""It's time to get real about how we actually win this election,"
Clinton declared a fundraising event at Hunter College. "It's
time that we move from good words to good works, from sound bites
to sound solutions ... This campaign goes on!""""
Just like Chrissy Mathews - flashing osama - while talking about Obama
- There still trying to make Obama out to be a psyco terro ....
It would work the same way with Clinton - flashing a crazy kid killer
mom - during her speaches .....
Now I'm not saying - go and make up a bunch of these subliminal message
- I am just pointing out - What and how there doing it ....
The Clinton washington-insider didn't care about destroying America with
there china - nafta - cafta deals - cutting young women off from help - And
they made america love those deals at the time !!!!
2000 years of fine tuning there propoganda - WE will make you support it
- even if you say you hate it !!!!
.......
Enter your comment here
BETTER IDEA - LETS TAKE AMERICA BACK - FOR AMERICA !!!!
AND THROW OUT THE LYING RICH-GREEDY IDIOTS !!!!!
Is It Deja Vu All Over Again?
Now what did you think would happen - with all those rip-off fee
based - drive up housing prices ?????
I know it has become a washington-insider lets rip everybody off
- s&l and before that ??? and now all the sub-prime mess .... You
know that darn old-rich-greedy - It's there worth attitude towards
Americans ....
Who cares if American have a home - who cares if Americans have
a job - who cares if Americans are starving on the streets - After
all - It's there worth that counts .......
So why should the rich-greedy worry about anything - after all -
The congress - has always bailed them out with hard earned American
tax dollars !!!
WHO VOTED - FOR THE BIGGEST - MISUSE OF HARD EARNED TAX DOLLARS -
DURING - THE LAST S&L BAIL-OUT ????
WHO MISUSED - AMERICAN TAXPAYER DOLLARS - IN THE LAST BIG S&L FRAUD ???
I've very disapointed in any Senator voting for baling-out fraudsters ....
...
They drive-up housing prices through high fees and now there - wanting
too be paid again - for there fake prices !!!!
OHHHHHHHHHH forgot the IDIOTS are hoping - were drugged out and sluring
But don't fall for these fraud scams with TAX-PAYER DOLLARS !!!!
Becasue these fraudsters would love nothing more then being bailed out again.
WASHINGTON (Reuters) - The U.S. Treasury Department is studying a
new regulatory proposal aimed at prodding servicers to help homeowners
facing foreclosure to refinance their mortgages, the department's
undersecretary, Bob Steel, said on Thursday.
The program would create "negative equity certificates" that would
in the long term help servicers recoup losses from refinancing a
mortgage when a home's value has dropped.
in flames again ....
Daddy bush Afghanistan - went up in flames and gave
rise too - binny-boy ...
baby bush - Iraq - hundreds of billions and 9 bill a month
now - and still no stable gov ....
and then we have McCain out saying all is well - and saying
things about Chaves - because he says he will not sell oil
to America - welllllllllllll duuuuuuuuuuuuuuuu - it belongs
to them ...
and on top of all that - The washington-insider-idi... - wants
to steal more american taxpayer money - with a back-door bail-out
- of fraudsters ........
AMERICAN NOT ONLY NEEDS CHANGE - BUT A MAJORE CHANGE !!!!!
NO MORE RICH GREEDY IDIOTS RUNNING WASHINGTON ........
Who believes in aborting black babies - because he things it will drop crime rates ????
Bill Bennett: "I do know that it's true that if you wanted to reduce crime, you could -- if that were your sole purpose, you could abort every black baby in this country, and your crime rate would go down. That would be an impossible, ridiculous, and morally reprehensible thing to do,
"""""" but your crime rate would go down.""""""
Now if we use bobbie bennetts - argument - to cut down on the - posioning of Amercans more rich-greedy kids need to be aborted .....
Homicide Type by Race, 1976-2005
Victims Offenders
White Black Other White Black Other
All homicides 50.9% 46.9% 2.1% 45.8% 52.2% 2.0%
Victim/offender relationship
Intimate 56.6% 41.2% 2.2% 54.4% 43.4% 2.2%
Family 60.7% 36.9% 2.4% 59.2% 38.5% 2.3%
Infanticide 55.9% 41.6% 2.5% 55.4% 42.1% 2.5%
Eldercide 69.2% 29.1% 1.6% 54.5% 43.8% 1.6%
Circumstances
Felony murder 54.7% 42.7% 2.6% 39.1% 59.3% 1.6%
Sex related 66.9% 30.5% 2.5% 54.7% 43.4% 1.9%
Drug related 37.4% 61.6% .9% 33.9% 65.0% 1.1%
Gang related 57.5% 39.0% 3.5% 54.3% 41.2% 4.4%
Argument 48.6% 49.3% 2.1% 46.8% 51.1% 2.2%
Workplace 84.6% 12.2% 3.2% 70.5% 26.7% 2.8%
Weapon
Gun homicide 47.2% 50.9% 1.9% 41.9% 56.4% 1.7%
Arson 58.9% 38.1% 2.9% 55.7% 42.0% 2.3%
Poison 80.6% 16.9% 2.5% 79.8% 18.4% 1.8%
Multiple victims or offenders
Multiple victims 63.4% 33.2% 3.3% 55.7% 40.8% 3.5%
Multiple offenders 54.8% 42.5% 2.7% 44.6% 53.0% 2.4%
Although slightly less true now than before, most murders are intraracial
From 1976 to 2005 --
86% of white victims were killed by whites
94% of black victims were killed by blacks
Sure too bad these compassion people - Are just for the rich-greedy
- and dead set on destroying the moral values - Of the American People .
Compassion for Nafta - Compassion for free-traders - Compassion for
the no-bid contracts - Compassion for illegal slave labor - Compassion
for bailing out mortgage fraudsters - Compassion for passing anything
bush leaves undone - That undermines America - goes on and on !!!!
Can America really handle anymore - of these Washington insiders -
Compassion for greed ?????????
"What we saw in the final moments in that debate is why Hillary
Clinton is the next president of the United States," spokesman
Howard Wolfson said. "Her strength, her life experience, her
compassion. She's tested and ready. It was the moment she retook
the reins of this race and showed women and men why she is the best
choice."
and slurring - BUT DAMN I WANT SOME OF THERE DRUGGGS - IF THEY THINK
THE AMERICAN PEOPLE - WILL KEEP FALLING FOR THERE PROPOGANDA !!!!
"""Clinton Will Get `Narrowly Decided' Ohio Win, Strickland Says"""
OHHHHHHHHHHH forgot they think were delusional and STUPID >>>>>&g...
Ohio Wages Decreased 15.7%, and Had “Biggest Losses” in Annual Wages.
Ohio’s job losses “ . . . along with their $9.3 billion in average annual
wages -- were the biggest losses of any state in the nation. The state's
15.7 percent decline in total average annual wages also ranked Ohio dead
last.” [Akron Beacon-Journal, 8/12/06]
Steel Manufacturing Declining in America, Tripling in China. “Now, the center
of steel manufacturing has moved overseas. The United States produced just 9
percent of the world's steel last year, compared with 12 percent in 1996, while
China's share has jumped from 13 percent to 33 percent, according to the
International Iron and Steel Institute.” [Associated Press, 9/2/06]
More Than 1 in 5 U.S. Appliance Manufacturing Jobs Lost. “The data on job loss
by manufacturing sector is staggering.” Between 1995 and 2004, “employment in
electrical equipment and appliances has fallen by 133,000 or 22.8%.” [Mark Levinson’s
testimony before the House Subcommittee on Commerce, Trade, and Consumer Protection. 3/31/2006]
Ohio Lost 9,826 Auto Manufacturing Jobs in the First Seven Years of NAFTA’s
Implementation. [“NAFTA’s impact on the states.” Economic Policy Institute. 4/2001]
Growing trade deficits with Mexico and Canada have displaced production that supported 1,015,291
U.S. jobs since NAFTA took effect in 1994 (see Table 1-1b).
Contrary to the rhetoric of most government officials and economists, industries that compete
with imports from Mexico pay 1% to 5% more than export jobs (see Table 1-4 and Appendix Table
1-A1). This result is quite robust, and is confirmed with six different methods for computing
average, trade-weighted wages.
Workers with at most a high school education were particularly hard hit by growing trade
deficits—they held 52% of jobs displaced; these workers make up 43% of the workforce.
Most of the jobs displaced by NAFTA trade deficits are in the manufacturing sector, which
employs a higher share of such workers than any other major industry (see Table 1-5).
NAFTA displaced into lower-paying jobs 523,305 workers with a high school degree or less.
Men, who make up 55.2% of the labor force, lost 649,048 job opportunities, or 63.9% of total
jobs displaced due to NAFTA deficits.
Women, who make up 47.8% of the labor force, were especially hard hit by rising imports in
apparel: they lost 34,855 job opportunities, 67% of all positions displaced in the apparel
sector.
The 1 million job opportunities lost nationwide are distributed among all 50 states and the
District of Columbia, with the biggest losers, in numeric terms: California (-123,995), Texas
(-72,257), Michigan (-63,148), New York (-51,582), Ohio (-49,886), Illinois (-47,701),
Pennsylvania (-44,173), Florida (-39,987), Indiana (-35,157), North Carolina (-34,150), and
Georgia (-30,464) (see Table 1-2).
The 10 hardest-hit states, as a share of total state employment, are: Michigan (-63,148, or
-1.4%), Indiana (-35,157, -1.2%), Mississippi (-11,630, -1.0%), Tennessee (-25,588, -0.9%),
Ohio (-49,886, -0.9%), Rhode Island (-4,482, -0.9%), Wisconsin (-25,403, -0.9%), Arkansas
(-10,321, -0.9%), North Carolina (-34,150, -0.9%), and New Hampshire (-5,502, -0.9%)
(Scott 2005, Table 1-3).
NAFTA is a free trade and investment agreement that provided investors with a unique set of
guarantees designed to stimulate foreign direct investment and the movement of factories within
the hemisphere, especially from the United States to Canada and Mexico. Furthermore, no
protections were contained in the core of the agreement to maintain labor or environmental
standards. As a result, NAFTA tilted the economic playing field in favor of investors, and
against workers and the environment, resulting in a hemispheric “race to the bottom” in wages
and environmental quality in the United States, Canada, and Mexico.