More than 18,000 Maryland homeowners have received formal warnings from their mortgage servicers so far this month that a foreclosure case could be filed against them in as little as 45 days.
That sounds like a big number, and it sure is after about a year of mostly suppressed activity as a result of the robo-signing scandal. Fewer than 11,000 notices of intent to file for foreclosure were sent to Marylanders in all of November 2010, according to the state.
Maryland regulators believe the big increase is a sign that some of the backlog created when revelations of robo-signing ground the foreclosure apparatus to a crawl could be starting to hit now.
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WASHINGTON -
How big a whack did your credit scores take during the grim years of economic distress following the housing bust? Was it 20 points, 50 points, 100 points – or maybe no drop at all?
These are key questions affecting millions of potential homebuyers who hope to qualify for mortgages and current owners looking to refinance. New research from a major credit-risk evaluation company suggests that the drop in huge numbers of Americans’ scores was dramatic.
FICO (formerly known as Fair Isaac Corp.), which developed and markets the eponymous score that dominates the home mortgage field, found that during 2008-09, approximately 50 million consumers in this country saw their FICO scores plunge by more than 20 points.
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Earlier this week, SP Indices released data through the end of September 2011 that showed little change in national home prices on a quarter-over-quarter basis.
SP/Case-Shiller1 Home Price Indices data revealed just a slight 0.1 percent increase in the U.S. National Home Price Index from the second quarter (Q2) of 2011 to the third quarter (Q3) of 2011.
Home prices drifted lower in September and the third quarter, David M. Blitzer, Chairman of the Index Committee at SP Indices, said in a statement. The National Index was down 3.9% versus the third quarter of 2010 and up only 0.1% from the previous quarter.
On a year-over-year basis, home prices declined 3.9 percent in Q3.
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Weve all seen the giant impact that mobile technology has had on our industry and continues to have as the years pass by. I saw this great infographic the other day and it reminded me entirely of how technology evolves to dramatically over the years. Sometimes its fascinating to look back at a device which we all used to have but has slowly become replaced with this emerging technology.
Via:
35 Church St. #504, St. Lawrence (Front and Jarvis streets)
Asking price: $488,000 Sold for: $479,000 Taxes: $3,120 (2011) Bedrooms: 1 Bathrooms: 2 Time on the market: 62 days
Southwest exposure, view of Flatiron
The owners of suite 504 can enjoy a view of the historic Flatiron building through a wall of windows offering a southwest exposure, says listing agent Elli Davis.
The sunny and bright suite has one bedroom plus a solarium. Read full post…
November 26th, 2011 in
Mortgages Today |
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A quick rundown of the important real estate news from the week of November 19 – November 25, by the numbers:
4.97 Million Existing homes sold in October on a seasonally adjusted annualized basis. The number of sales is in October up 70,000 from September.
3.3 Million Number of homes listed in October on a seasonally adjusted annualized basis. The number of listings in October is a two percent drop from September and represents a 8.0 month supply of homes.
45 Months Amount of time it will take to clear the nations shadow inventory according to S&P. It
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