On the first day of his administration, President Joe Biden issued a slate of executive orders, including one that called on federal departments and agencies to extend their bans on evictions and foreclosures through at least the end of March. As with the previous extensions, this act is designed to provide ongoing relief to homeowners and renters feeling the negative financial impact of the Continue Reading

Despite federal and local efforts to halt foreclosures and evictions during a global health crisis, losing a home has become a real threat facing millions of Americans, especially as preventative moratoria expire in December and January. Several reports and publications have examined the implications and possible solutions. An article by USA Today's N'dea Yancey-Bragg, for example, examines the Continue Reading

Due to forbearance plans, home foreclosures are at record lows, but skyrocketing serious-delinquency rates point to a rough road ahead. That is, according to CoreLogic, provider of property-data analysis, which just released its monthly Loan Performance Insights report for August. It showed, nationally: •Overall delinquency rate for August was 6.6%. •The rate for early-stage delinquencies (30 to Continue Reading

UPDATE: The Federal Housing Administration (FHA) and HUD announced, shortly following FHFA's similar announcement, the third extension of its foreclosure and eviction moratorium through December 31, for homeowners with FHA-insured single family mortgages covered under the Coronavirus Relief and Economic Security (CARES) Act. According to a statement, "this extension provides an additional four Continue Reading

As of May 7, nearly 4.1 million homeowners are in forbearance plans, representing 7.7% of all active mortgages, according to the latest forbearance data from Black Knight. They account for $890 billion in unpaid principal and includes 6.4% of all GSE-backed loans and 11% of all FHA/VA loans. At today’s level, mortgage servicers need to advance a combined $4.5 billion/month to holders of Continue Reading

The housing market is set to remain a bright spot in the face of a possible recession caused by the COVID-19 pandemic, according to Redfin. Because the housing market was strong going into the 2020 recession, there’s currently no reason to expect a major crash in home prices, Redfin notes. As Redfin states, the driving factors for this 2020 recession are unrelated to real estate, which Continue Reading

California and Florida combined have totaled nearly 1.5 million REOs over the last 10 years, according to ATTOM Data Solutions Year-End 2019 Foreclosure Market Report. Other states leading the nation in REOs include Michigan (333,312), Texas (323,806), Illinois (312,057) and Georgia (304,964). Metropolitan statistical areas with a population greater than 200,000 that saw a year-over-year increase Continue Reading

Housing analysts are hoping it’s not a case of déjà vu. Unconventional mortgage lending is on the rise, in 2018 reaching its highest level since the financial crisis of 2008. These mortgages include subprime loans, financing offered to borrowers with blemished credits. While these more risky loans are on the rise, some economists shrug off the notion that the economy is headed for another Continue Reading

Over half of investors at foreclosure auctions plan to purchase fewer than five properties in 2019, according to the 2019 Buyer Insights Survey Report from Auction.com. The report found that 51% of auction buyers are these “mom and pop” investors, while 22% of buyers plan to purchase more than 10 properties for the year. Only 2% of buyers said they plan to purchase more than 100 properties in Continue Reading