Foreclosures

3.4 Million Completed Foreclosures since Sept. 2008, CoreLogic Reports

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From the start of the U.S. financial crisis in September 2008, CoreLogic reports that approximately 3.4 million foreclosures have been completed. In the past 12 months ending in February 2012, the total number of completed foreclosures nationally reached 862,000, CoreLogic reports. CoreLogic, a provider of property information and analytics, continues that almost 3.4% of all …

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Sales of Vacation Homes & Investment Homes Soar in 2011

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According to the 2012 Investment and Vacation Home Buyers Survey conducted by the National Association of Realtors (NAR), sales of vacation homes and investment homes have jumped in 2011 – the highest level since 2005. The 2012 Investment and Vacation Home Buyers Survey, which covers the existing and new home transactions in 2011, shows that …

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Bank of America to Allow Families Facing Foreclosure Rent their Homes

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Bank of America, one of the nation’s largest mortgage servicers, has announced that it will allow a limited number of mortgage customers who are facing foreclosure to remain in their homes as tenants through the bank’s pilot program called “Mortgage to Lease.” Ron Sturzenegger, Legacy Asset Servicing executive of Bank of America, in a statement …

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Foreclosure Tide to Rise After $25 billion Mortgage Settlement

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One in every 637 U.S. housing units were in the process of foreclosure in February 2012, this according to the latest report from the information provider RealtyTrac. This latest foreclosure data was a 2% decline from the data in January 2012 and a decline by 8% from February 2011 — the lowest annual decrease since …

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RealtyTrac Reports Shift Towards Short Sales and Away from Foreclosure Sales

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In its 2011 Year-End U.S. Foreclosure Sales Report, the information provider RealtyTrac reports that in the national scale, pre-foreclosure sales – which are mostly short sales – increased by 15% from a year ago; while Real Estate Owned (REO) sales or sales of properties as a result of foreclosure decreased by 12%. In terms of …

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