Feb 26

Still Underwater? Consider a Short Sale…

  Even with the increase of home prices in some areas, other areas are slower to recover  There’s good news for homeowners considering a short sale: the HAFA program has been extended through the end of 2016.  HAFA® provides homeowners the opportunity to exit their homes and be relieved of their remaining mortgage debt through …

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Apr 14

Foreclosure inventory down 27.3% since February 2014

The national foreclosure inventory declined by 27.3% and completed foreclosures declined by 15.7% from February 2014, according to the latest from CoreLogic. The data firm also reports the number of mortgages in serious delinquency declined by 19.3% from February 2014 to February 2015 with 1.5 million mortgages, or 4%, in serious delinquency, which is defined as 90 …

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Dec 13

Mortgage rates edge down slightly to 3.32%… Foreclosure filings down significantly

The average interest rate on a 30-year, fixed-rate mortgage for the week ending Dec. 13th declined to 3.32% from 3.34% a week earlier according to Freddie Mac. Comparatively, that is down from 3.94% a year ago. Big five banks see 41% drop in notices of default/notices of trustee sales Nationally, foreclosure filings fell 3% from …

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Oct 11

Foreclosures hit 5-year low

     Foreclosure activity reached a 5-year low in September with only 180,427 filings made on distressed properties, according to RealtyTrac. The filings surveyed include default notices, scheduled foreclosure auctions and bank repossessions. Nationally a 13% drop from last year  Overall, September’s foreclosure numbers fell 7% from August and 16% from last year as more non-judicial foreclosure …

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Jun 11

Short Sales in Washington State are low: 9.21%

Washington State is in the low end on the national scale of the percentage of short sales for all home sales.                                 KCM Blog, April 27, 2012  

May 30

Zillow reports one-third of homeowners underwater with mortgage

Zillow just reported that their data shows nearly 16 million homes in this country are now in a negative equity position where the house is worth less than the mortgages on the home. This number is dramatically higher than the approximate 11 million reported by other entities. Why the huge difference? Zillow professes to take into consideration ALL …

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May 11

Short Sale vs Foreclosure – Common Myths BUSTED!

It’s likely you’ve heard the term “short sale” thrown around quite a bit. But what, exactly, is a short sale? A short sale is when a bank agrees to accept less than the total amount owed on a mortgage to avoid having to foreclose on the property. This is not a new practice; banks have …

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Apr 18

New Foreclosure Wave: What Will Be the Impact?

KCM Blog reported two months ago that foreclosures will significantly increase this summer as a result of The National Mortgage Settlement. This month, both Reuters (Americans brace for next foreclosure wave) and CNNMoney (Flood of foreclosures to hit the housing market) concurred. However, we believe this increase in distressed properties will have a much different impact on the housing market than previous increases …

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Feb 21

The true cost of buying a foreclosed home: your foreclosure calculator

Homebuilders are working harder to tell their story The cost of a new home from a builder is all built into the price. Compare that with a foreclosure that sells ‘as is,’ but may wind up costing more than a new home because of the ‘fixes’. Online Truth Squad In Phoenix, one large builder, Fulton …

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Feb 13

National Mortgage Settlement: What You Need To Know

Last week, the Federal government and 49 state governments (Oklahoma being the exception) agreed to a $25 billion settlement regarding robo-signing and the challenges it created in the foreclosure process. We want to give a synopsis of the settlement and some perspective on what effect it will have on the housing market in 2012. The …

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