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.


Foreclosures Up

RealtyTrac, Default Research release data

August 16, 2006

By MortgageDaily.com staff


After falling to the lowest level of the year in June, monthly foreclosure activity picked back up.

The number of properties nationwide that went into some stage of foreclosure rose 5 percent from June to 92,845, according to the announced results of RealtyTrac's latest U.S. Foreclosure Market Report. The total is also 18 percent above the level in July 2005.

July's national foreclosure rate was reportedly one new foreclosure filing for every 1,245 households, almost identical to the rate in May.

"While foreclosure activity continues to remain slightly below historical averages, there looks to be a significant amount of upward pressure on foreclosure rates in the next few months," noted RealtyTrac Chief Executive James J. Saccacio in the announcement. "First, the billions of dollars in ARMs projected to reset in the third and fourth quarters could increase monthly mortgage payments for many homeowners. And the cooling real estate market exacerbates the problem for these homeowners."

Continuing the trend from the previous four months, Colorado remained the state with highest foreclosure rate in July -- one new foreclosure filing for every 480 households. Nevada had the second-highest foreclosure rate for the second month in a row, with one new foreclosure filing for every 533 homes, and Texas, for the eighth month in a row had the most properties in foreclosure, but the third-highest rate at one filing for every 614.

Texas, Florida, California, Michigan, Ohio and Illinois -- accounted for more than half, or 54 percent, of the nation's foreclosure filings in July. Florida regained the second-highest number of properties entering a stage of foreclosure, as its number jumped 25 percent from June to 10,757 and bumped California down to the third-highest -- with 10,025 properties amounting to six fewer than the previous month but two times above the number reported in July 2005.

RealtyTrac, based in Irvine, Calif., says it publishes "the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 600,000 properties from more than 2,500 counties across the country."

Data provided by Default Research, which claims it a "rapidly growing real estate research company" and gives investors leads two to three weeks ahead of the competition, conflicted that of RealtyTrac's.

Default Research announced that Florida and California saw surprising decreases in July. Lee County led the way in Florida with a drop of approximately 40 percent, and in California, the most significant drop in foreclosures was in San Bernardino County, with a decline of 30 percent.

However, the Pennsylvania-based company coincided in that rising mortgage rates, the escalating cost of living and low appreciation rates, could send the foreclosure rate up.


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