CALL INFO LINE: 801-859-6555
 Welcome to the FreeUtahHomeSearch.com Blog

2010-11-23 14:53:08
Data Shows Impact of Foreclosure Robo-Signing

The number of homes sold on courthouse steps or repossessed by banks at the end of the foreclosure process dropped 35 percent nationwide in October, according to mortgage-data aggregator Lender Processing Services. There were about 80,000 foreclosure sales and bank repossessions in October, LPS said, down from 124,000 in September, which was a high for the year.

The slowdown -- fallout from the robo-signing controversy -- helped boost the total number of homes in the foreclosure process for the fourth consecutive month, to 2.09 million, LPS said.

Another 4.95 million homeowners were behind on their payments but not yet in foreclosure, LPS estimated. The number of newly-delinquent loans ticked up for a third consecutive month, to 1.92 million, or about the same level as a year ago. Another 794,000 first-lien loans were 60 days delinquent, and 2.24 million homeowners were behind on their payments by 90 days or more.

All told, LPS estimated that about 7.04 million homeowners had missed at least one mortgage payments or were in foreclosure in October, down 13.2 percent from January's high of 8.12 million.

10 states with the highest share of non-current loans:
1. Florida (23.4 percent)
2. Nevada (21.0 percent)
3. Mississippi (19.1 percent)
4. Georgia (15.8 percent)
5. Louisiana (14.7 percent)
6. New Jersey (14.7 percent)
7. Illinois (14.6 percent)
8. Ohio (14.6 percent)
9. Indiana (14.6 percent)
10. Arizona (14.3 percent)
Source: Lender Processing Services

Other states where the percentage of non-current loans exceeded the national average of 13.2 percent: Rhode Island (14.1 percent), Michigan (13.9 percent), Tennessee (13.7 percent), Maryland (13.5 percent), South Carolina (13.3 percent), Alabama (13.3 percent), West Virginia (13.3 percent).

States seeing the greatest growth in non-current loans during the last six months were Arkansas (up 9.7 percent, to 11.4 percent); Oklahoma (up 9.4 percent, to 11 percent); Kansas (up 8.9 percent, to 9.6 percent); Nebraska (up 8.3 percent, to 7.7 percent); Iowa (up 7.7 percent, to 9 percent); and Texas (up 7 percent, to 11.1 percent).

States seeing the greatest reductions in non-current loans compared to 6 months ago were Alaska (down 9.8 percent, to 5.6 percent), California (down 8.5 percent, to 13.2 percent), Arizona (down 6.4 percent, to 14.3 percent); Nevada (down 6.1 percent, to 21 percent); and Hawaii (down 4.7 percent, to 11.9 percent).

 
Blog Archive
2017-04-16 09:49:56
Population Growth Shifting Out of SL To UT County

2017-04-16 09:49:01
State’s economy fueling population growth

2017-03-10 16:03:59
CNBC ranks Utah No. 1 state for business

2017-03-08 10:24:12
Toughest & Easiest States for 1st Time Home Buyers

2017-01-04 10:39:50
Housing Market 2017: The Positives & Negatives

2016-06-14 10:31:17
Salt Lake Monthly Housing Report

2016-05-20 15:42:35
Who Pays the Highest Property Taxes?

2016-03-31 15:49:40
Cities to Watch: 2016's Fastest-Growing Places

2016-03-29 13:19:08
Salt Lake Quarterly Housing Report

2016-01-28 08:37:27
Park City 2015 Year-end Statistics Press Release

2016-01-18 10:50:31
5 Things to Never Say When Selling a Home

2016-01-11 11:46:49
The ‘Missing Link’ in Housing

2015-12-23 12:08:43
5 Real Estate Trends That Will Dominate 2016

2015-12-15 10:56:50
How Will Higher Rates Affect Housing?

2015-12-04 10:39:02
Big Expectations for Housing in 2016

2015-12-01 10:07:30
6 ‘Tacky’ Home Décor Trends

2015-11-10 11:31:23
Home Buyers Don’t Need to Fear

2015-10-28 09:48:58
Home Prices Rising at Faster Pace Than Inflation

2015-10-20 15:23:54
Scammers Using New Chip-Based CCs as Fresh Phishin

2015-10-09 10:13:25
3 Home Inspection Deal-Breakers

2015-10-06 14:42:40
The Next Three Months: Best Time to Buy

2015-09-17 10:30:01
How High Will Mortgage Rates Actually Climb?

2015-09-11 14:14:05
Best Day of the Year to Buy a Home

2015-08-24 08:28:04
Home Resales at 8-Year High as Buyers Act Before M

2015-07-31 11:21:43
Utah Economy Newsletter June 2015 Now Available

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.