Archive for the ‘ Short Sales and Foreclosures ’ Category

Unemployment Rises Setting Record Year for Foreclosures

A record 2.8 million households were threatened with foreclosure last year, and that number is expected to rise this year as more unemployed and cash-strapped homeowners fall behind on their mortgages. The number of households that received a foreclosure-related notice rose 21 percent from 2008, RealtyTrac Inc. reported Thursday. One in 45 homes were sent [ READ MORE ]

Home Appraisals and Foreclosures

Across the country, agents and home builders are complaining too many appraisals are coming in low, scuttling deals. The National Association of Realtors says nearly one in four of its members has reported clients losing a sale due to botched appraisals. The National Association of Home Builders, meanwhile, said low appraisals were sinking a quarter of [ READ MORE ]

Fannie, Freddie Suspend Foreclosures

Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures and evictions for about two weeks in a temporary break for borrowers during the holiday season. The suspension, announced Thursday by the government-controlled companies, runs from Saturday through Jan. 3. “No family should have to face the prospect of being evicted during the holiday season,” [ READ MORE ]

Foreclosures Fall in Bay County During November

Foreclosure rates fell in Bay County for the first time since August, according to Metro Market Trends, a data research and analysis company. Bay County foreclosures dropped by about 10 percent in November compared to the same time last year. Fewer foreclosures mean home values will stop falling. Existing home values rose 3 percent in [ READ MORE ]