home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


South Drives Foreclosure Spike

24,124 foreclosures started in December

January 13, 2006

By COCO SALAZAR


photo of Coco Salazar

As new foreclosures rose during December, the inventory jumped by the highest amount since March 2005.

Foreclosure.com announced Wednesday that 24,124 U.S. residential properties joined the foreclosure list last month, 8 percent more than in November.

The total number of foreclosed homes available for sale shot up 13% from the prior month to 91,905 in December, the Boca Raton, Fla.-based company reported.

Both the inventory and the newly-listed increases were the highest month-to-month boost since last March, according to the announcement.

"The relative stability of U.S. foreclosure inventory ended in December," said company President and CEO Brad Geisen in the statement. "With lending institutions closing their books at the end of the year, it is somewhat common for the foreclosure inventory to rise."

And while it is "premature to predict that December's inventory indicates a foreclosure crisis," the rise, "which is higher than in recent years, should be closely monitored as 2006 begins," he added.

Inventory will very likely remain high in the early months, if waning investor confidence in the housing market, high interest rates and a weakening sellers market persist, Geisen said.

The South, which includes Florida, Georgia, North Carolina and Texas, led the country with a 9 percent increase in inventory and a 17.4 upturn in new foreclosures, Foreclosure.com spokeswoman Tristam Wallace said in an e-mailed statement. The Midwest showed the second highest percentage increases, followed by the Northeast and the West, according to the announcement.

Texas had the highest foreclosure inventory -- 11,458 -- followed by Ohio's 8419 and Michigan's 7,955 properties. They also had the largest amount of new foreclosures in the month, 2,997, 2380 and 2064, respectively, the announcement said.

"Regardless of what happens in the first quarter, the current foreclosure inventory represents a very strong buyers market for investors and individuals," Geisen concluded.


Coco Salazar is an assistant editor and staff writer for MortgageDaily.com.

e-mail: [email protected]


SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders