Radar Logic: Home Prices Hit Peak in July, Distressed Sales Plunge
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| YOUR DAILY DOSE OF DEFAULT SERVICING NEWS | THU SEP 27, 2012 | |||||
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What Keeps Baby Boomers from Walking Away?As more and more baby boomers approach their golden years, many are finding themselves having to make a choice they never imagined: Whether or not to walk away from their mortgages. YouWalkAway.com released the results of a client survey, revealing that the looming prospect of a fixed income is driving many older struggling homeowners to strategically default while they still have something left.» Read More |
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Radar Logic: Home Prices Hit Peak in July, Distressed Sales PlungeHome prices have hit their peak for the year, and the price increases seen earlier this year are slowing down, according to the latest data from Radar Logic. The firm’s composite price index posted a 1.3 percent price increase from June 19 to July 19. Based on years passed, Radar Logic suggests the gains are partially seasonal, and prices peaked for the year in July. In addition, sales of foreclosed and REO properties reached their lowest level since January 2008, making up just 14.1 percent of all home sales. » Read More |
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Completed Foreclosure Actions from GSEs Slow in Q2 to 129KIn the second quarter of 2012, Fannie Mae and Freddie Mac completed more than 129,007 foreclosure prevention actions, raising the year-to-date total to 275,106, the Federal Housing Finance Agency, which is the GSEs conservator and regulator, reported Wednesday. The second quarter total is a decrease from the first quarter of 2012, when the GSEs completed 146,099 foreclosure prevention actions. Since 2008, the start of the conservatorship, the GSEs have completed nearly 2.4 million foreclosure prevention actions, 1.2 million of which included permanent loan mods. » Read More |
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Final California Homeowners’ Rights Bills Signed into LawCalifornia attorney general Kamala Harris announced Tuesday that the final parts of the California Homeowner Bill of Rights were signed into law by Governor Jerry Brown. The governor signed three bills: SB 1474, AB 1950, and AB 2610. The governor previously signed into law three other components of the Homeowner Bill of Rights. All aspects of the California Homeowner Bill of Rights will take effect at the start of 2013. » Read More |
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