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Tag Archives: Mortgage Delinquency Rates
Late Mortgage Payments or No Payments Drop for Fifth Straight Quarter
The number of homeowners making late payments — or no payments — on their mortgages fell for the fifth straight quarter in the first three months of 2011. But the figure remains stubbornly high compared with the pre-crisis norm, likely because of the huge backlog of homes waiting to be foreclosed. Continue reading
Posted in Fresh Perspectives, Home Economics, Mortgage News
Tagged Foreclosures, Mortgage Delinquency Rates
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Option-Arm Foreclosure Rate Now Higher Than Subprime
What are the prospects for curing these loans? Most bulls assume cure rates of 85% or better will mop up this mess. With less than a quarter of loans curing, foreclosure is the most likely outcome for shadow inventory even if cure rates continue to improve. Distressed inventory will be with us for a long time. Continue reading
Phantom Income on $1.4 Trillion Delinquent Mortgages
I am all in favor of workouts if lenders feel it is in their best interest to do so. When lenders voluntarily agree to workouts, it is probably in everyone’s best interest for the simple reason that a conscious decision based on facts and likely probabilities is better than mandated nonsense. Continue reading
US Foreclosure Inventories 7.4 Times Normal and Rising
The housing rot in OZ has just started and it’s a long way to the core. But it will get there. Australia can look forward to similar stats in years to come. Continue reading
Housing Affordability Set to Improve
With both prices and interest rates going down, affordability is expected to improve throughout 2011. Continue reading