‘Foreclosure Predicament Persists’ in New York

first_imgHome / Daily Dose / ‘Foreclosure Predicament Persists’ in New York August 17, 2015 1,847 Views Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Foreclosure Filings Foreclosure Inventory New York 2015-08-17 Brian Honea About Author: Brian Honea New York State Comptroller Thomas DiNapoli said that despite recent leveling off of foreclosures in the state, the problem is “far from resolved,” according to a report released by DiNapoli’s office on Monday titled “The Foreclosure Predicament Persists.”Since DiNapoli’s office first reported on the impact of foreclosure activity on local governments in New York back in 2012, the trends in both new foreclosure filings and the number of pending foreclosure cases indicate that foreclosures remain a significant problem in New York seven years after the financial crisis and five years after the nationwide foreclosure peak.CoreLogic reported that in June 2015, New York’s foreclosure inventory rate (the percentage of residential mortgages in some state of foreclosure) was 3.7 percent, three times the national rate for the month of 1.3 percent and second among states (New Jersey had 4.7 percent). And this was after a 16 percent decline in foreclosure inventory in New York from June 2014.According to CoreLogic, New York’s serious delinquency rate for June was 6.7 percent, nearly double the national average of 3.5 percent for the month. New York’s total of 9,981 completed foreclosures for the 12-month period ending June 30, 2015, was sixth among judicial foreclosure states and 16th overall.In the years immediately before and after the crisis, foreclosure filings rose by 78 percent in New York, from 27,000 up to 47,000. Anti-robo-signing rules for lenders enacted in October 2010 caused the number of filings to drop to 16,600 by 2011, but the number had risen back to slightly less than 47,000 by 2013. In 2014, they had fallen slightly to nearly 44,000. While the number of new foreclosure filings has been leveling off in the last two years, DiNapoli’s report says they are still elevated from their pre-recession levels. Also, the number of pending foreclosure cases has tapered off since May 2014, hovering around 92,000 in the last year– about 27 percent higher than in May 2013.”In addition, the State’s courts are experiencing difficulties working through a large backlog of foreclosure cases pending in the State’s long and complicated judicial foreclosure process,” DiNaploli said in the report. “This large pool of properties in legal limbo weighs on local governments’ vitality in many ways, including reducing property values, eroding tax bases and propagating blight.”DiNapoli reported that many major banks and services in New York agreed to follow a set of best practices regarding managing vacant and abandoned properties prior to beginning the foreclosure process. The practices include inspecting, securing, and maintaining the properties throughout the loan’s delinquency. DiNapoli said while the banks engage their best practices to maintain the properties, however, it is up to all of the stakeholders (courts, banks, local governments, and other groups) to work together to keep blight from spreading. ‘Foreclosure Predicament Persists’ in New York Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. in Daily Dose, Featured, Foreclosure, News The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Foreclosure Filings Foreclosure Inventory New York Previous: Some Lawmakers Believe ‘Too Big to Fail’ Is Still Alive Seven Years After the Crisis Next: The TRID Delay: What it Means for the Industry Now and In the Future Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily  Print This Postlast_img read more

Report: Time to Update the Mortgage Servicing Industry

first_img Report: Time to Update the Mortgage Servicing Industry Related Articles Servicers Navigate the Post-Pandemic World 2 days ago The Urban Institute released a report Thursday calling for an update to the mortgage servicing industry to make it easier for creditworthy borrowers to get a mortgage.The report, written by Institute experts Alanna McCargo and Laurie Goodman, said mortgage services have historically been a “behind-the-scenes” component of the housing and mortgage industries, until the 2008 financial crisis.“After the 2008 housing crisis, servicers were thrust into the spotlight as an unprecedented number of borrowers started having trouble paying their mortgages and entered foreclosure,” McCargo and Goodman said. “In response to the crisis, Federal agencies created new regulations designed to help servicers quickly resolve and minimize homeowner losses. While many of these measures were helpful during the crisis, stabilizing mounting losses and establishing needed standards, they remain on the books today, even while delinquency and foreclosure rates have stabilized from crisis levels.They said despite the drastically changed regulatory scheme, much of the servicing side remains unchanged, including the way services are compensated.“In recent years, we have witnessed the rapid growth of nonbank servicers, which manage more than half the nation’s mortgage loans and have introduced new regulatory, risk, and capital questions that have not been fully addressed,” they said. “New servicing business models have also emerged, with subservicing and specialized servicers entering the market and many traditional servicers exiting the market.”Several high-profile companies have exited the servicing industry since the 2008 crisis. Most recently, Citimortgage agreed to a deal with New Residential Investment and Nationstar Mortgage to transfer their servicing rights to 780,000 mortgages, marking their exit from the servicing sphere.“The financial crisis revealed the housing finance system’s vulnerability, as well as the centrality and general underappreciation of the role of mortgage servicers, who manage over $10.2 trillion in single-family mortgage servicing outstanding nationally,” they said. “The viability, liquidity, and stability of servicing over the long term are critical and must be part of the conversation about how we comprehensively reform our housing finance system.”Cam Melchiorre, President and CEO of HOPE Loan Port, said that the industry needs to develop more programs to assist customers in getting back into the market.”The purchase market is still constrained because of the regulatory drag, tightened eligibility guidelines and lack of inventory. The mortgage finance industry needs to redouble its efforts in a collaborative way to assist consumers who seek homeownership,” he said. “Additionally, many prospective homeowners emerged from the financial crisis with credit blemishes, especially those with modifications, short-sales, deeds-in-lieu and foreclosures.  The industry should also have more programs to remediate those consumers and facilitate their return to the market.” The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Report: Time to Update the Mortgage Servicing Industry Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Phil Banker Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2017-02-07 Phil Banker Phil Banker began his career in journalism after graduating from the University of North Texas. He has covered a number of communities across Texas and southern Oklahoma, writing news and sports for publications including the Ardmoreite, Ennis Daily News and the Plano Star-Courier. He is currently a contributor to DS News and The MReport. The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Share Save Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Previous: Home Equity Jumps to $726 Billion Next: Fed’s MBS Drawdown Could Affect Housing Market in Daily Dose, Featured, Headlines, News The Best Markets For Residential Property Investors 2 days ago February 7, 2017 1,749 Views last_img read more

CFPB Names Advisory Board Members

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / CFPB Names Advisory Board Members Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Foreclosure, Government, Headlines, News, Technology About Author: Joey Pizzolato CFPB Names Advisory Board Members Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago July 10, 2017 1,826 Views Subscribe Demand Propels Home Prices Upward 2 days ago  Print This Post Tagged with: CFPB Consumer Advisory Board One True Holding Company Previous: A Vote of Confidence for Bank of America Next: Post Crisis: How Do Banks Continue Servicing Home Loans? Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily The Consumer Financial Protection Bureau recently announced a new group of advisory board members, including one member of the servicing community.Ohad Samet, CEO of One True Holding Company, based out of San Francisco, was recently appointed to the Consumer Advisory Board, along with five other members, including Randi Adelstein, Patricia L. Arvielo, Julie Kalkowksi, Brent A. Neiser, And Dr. Howard B. Slaughter, Jr. Their tenure on the board will last for three years.  According to the CFPB’s website, the Consumer Advisory Board,“is a crowdsourced group of experts on consumer protection, consumer financial products or services, community development, fair lending, civil rights, underserved communities, and communities that have been significantly impacted by higher priced mortgage loans. They are a source of market intelligence and expertise for us, and also advise and consult us on our work.The board helps inform us about emerging practices or trends in the consumer finance industry, and shares analysis and recommendations. They are charged with identifying and assessing the impact of emerging products, practices, or services on consumers and other market participants.”The servicing industry has long called for updated rules and regulations for the way servicers handle collections, and it the hope that Samet will bring these issues to the table while serving on the board. Currently, most regulations involving communication with snail-mail and landline calls.Other appointments include, the Community Bank Advisory Council, which received two new members—Richard H. Harvey, Jr., and Max S. Yates—both of which will serve a two-year term; and the Credit Union Advisory Council received four new appointments: Kayce Bell, Jack Fallis, Louis Peralta, and David Tuyo, who also have a two-year term.The Academic Research Council, who’s members serve a three-year term, received one new appointment, Dr. John G. Lynch, who is the Senior Associate Dean for Faculty and Research at the Leeds School of Business in Boulder, Colorado. The Best Markets For Residential Property Investors 2 days ago CFPB Consumer Advisory Board One True Holding Company 2017-07-10 Joey Pizzolato Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Related Articleslast_img read more

Minimizing Foreclosure, Maximizing Home Retention

first_img Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago July 12, 2017 1,717 Views Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] About Author: Joey Pizzolato The Federal Housing Finance Agency released Foreclosure Prevention Report for April 2017 on Wednesday, which catalogued the details of over 16,000 foreclosure prevention actions.Of the total 16,521 foreclosure prevention actions in April, which are designed to help homeowners retain ownership of their home when they’re struggling financially, 11,328 of those were permanent loan modifications. April’s numbers bring the Enterprises total loan modifications to 2,065,576 since September of 2008, and the total foreclosure prevention actions to 3,898,985.  Further, the share of modifications with principle forbearance accounted for 32 percent of all modifications, while extend-only terms accounted for 38 percent. The agency attributes this change to improving home prices.Serious delinquency rates were also down 0.03 percent, from 1.04 percent to 1.01 percent month-over-month, as were active HAMP trials, down from 1,597 to 1,176. Sixty-plus days delinquent numbers fell from 1.35 percent to 1.34 percent, but the number of homes that were 30-59 days delinquent rose to 1.45 percent from 1.14 percent. The number of loans in bankruptcy only accounted for 0.20 percent.In terms of home forfeiture actions, numbers were down from March, totally 1,650 in April compared to 1,827, which is a 10 percent decrease. Of the 1,650 forfeiture actions, 1,055 were short sales and 595 were deeds-in-lieu. Short sales were down compared to March’s numbers (1,262), while deeds-in-lieu were up, comparatively (565 in March). Third-party and foreclosure sales were down significantly, dropping from 6,581 in March to 5,523 sales in April.Foreclosure starts, however, increased 10 percentage points, rising from 15,478 to 17,056 month-over-month.The FHFA produces monthly and quarterly versions of the Foreclosure Prevention Report. The quarterly report features additional information, including MHA program updates, benchmarking of Fannie Mae and Freddie Mac’s delinquency rates, the type and depth of loan modifications, and the performance of all modified loans. Sign up for DS News Daily in Daily Dose, Featured, Foreclosure, Government, Headlines, Loss Mitigation, Newscenter_img Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Keeping an Eye on Affordability Next: What’s in the Complaint Box? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Minimizing Foreclosure, Maximizing Home Retention Tagged with: FHFA Foreclosure HAMP Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago FHFA Foreclosure HAMP 2017-07-12 Joey Pizzolato Related Articles Home / Daily Dose / Minimizing Foreclosure, Maximizing Home Retentionlast_img read more

Rebuilding Puerto Rico

first_img Rebuilding Puerto Rico The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe November 16, 2018 2,275 Views Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Foreclosure, News Share Save Tagged with: Ali Haralson Auction.com Banco Popular de Puerto Rico Clear Capital DIMONT Ed Delgado Fannie Mae Five Brothers Asset Management Solutions Freddie Mac Gilbert Garcia Group Governor’s Office of Storm Recovery Hladik HMB Law Group HOPE NOW JGM Property Group NAHREP National General Lender Services Onorato & Federman Puerto Rico RES.NET Ricardo Rossello Rushmore Loan Management Services San Juan Steven Horne The Five Star PR18 Conference The Home Depot Renovation Services USRES Wells Fargo Home Mortgage Xome On Thursday, leading representatives from mortgage banks, servicers, suppliers, non-depository institutions, and government agencies engaged in a series of collaborative discussions focused on sustainable solutions for this island in recovery during The Five Star PR18 Conference (PR18) in San Juan.It’s been more than a year since Hurricane Maria left a trail of devastation to life and property in the island nation of Puerto Rico. But even now, its shadow looms with Puerto Rico’s government estimating the amount required to rebuild and restore the region at around $139 billion. Even more sobering are the death tolls for the storm that were raised from 62 to 2,975 according to a report commissioned by Puerto Rico’s Gov. Ricardo Rossello and released in August 2018. “The People of Puerto Rico are not nameless, faceless statistics. They are our countrymen, with the same dreams, values, and aspirations. Our solemn duty as an industry and as a society is to help restore and revitalize an island that so many call home,” said Ed Delgado, President, and CEO of the Five Star Institute during his address at the conference.Some of the key topics discussed during this two-day summit included an overall “State of the Island,” a look at the policies and programs shaping the island’s recovery, an examination of Puerto Rico’s ongoing foreclosure crisis, borrower outreach options, a legal services update, and a breakdown of the unique property preservation challenges presented by Hurricane Maria’s aftermath. “Mainland firms are not familiar with Puerto Rico, and parties based in Puerto Rico need to work with mainland partners they can trust,” Steven Horne, Founding Member of HMB Law Group told DS News in its November feature story titled “Rebuilding Paradise”. “The beauty of the Five Star PR18 Conference is that it is the perfect time in the recovery process to build those relationships.” Supported by Auction.com and Co-supported by The Home Depot Renovation Services and RES.NET, PR18 featured representatives from industry-leading organizations. They included Banco Popular de Puerto Rico; Clear Capital; DIMONT; Fannie Mae; Five Brothers Asset Management Solutions; Freddie Mac; Gilbert Garcia Group; Governor’s Office of Storm Recovery; Hladik, Onorato & Federman;  HMB Law Group; HOPE NOW; JGM Property Group;  National General Lender Services; NAHREP, USRES; Wells Fargo Home Mortgage; and Xome.At the crux of the conference were two key focus areas—proactive response and collaboration.“When crises happen, we must all react quickly and collaboratively to effect change,” said Ali Haralson, Chief Business Development Officer, Auction.com. “This proactive response is in line with the message of PR18: hope and restoration. By convening in Puerto Rico for this important summit, our industry leaders will be bringing visibility to the needs of the island and supporting relief and recovery efforts collectively.” The road to recovery for this paradise is a long one indeed but it is one that the industry is taking action to walk on to restore the island.Click here to read our November issue of DS News to learn more about how industry leaders are working to facilitate the process of rebuilding Puerto Rico. Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Ginnie Mae’s Guidelines to a Healthy Mortgage Market Next: The Future of Housing is … The Week Ahead: Nearing the Forbearance Exit 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. center_img  Print This Post Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Ali Haralson Auction.com Banco Popular de Puerto Rico Clear Capital DIMONT Ed Delgado Fannie Mae Five Brothers Asset Management Solutions Freddie Mac Gilbert Garcia Group Governor’s Office of Storm Recovery Hladik HMB Law Group HOPE NOW JGM Property Group NAHREP National General Lender Services Onorato & Federman Puerto Rico RES.NET Ricardo Rossello Rushmore Loan Management Services San Juan Steven Horne The Five Star PR18 Conference The Home Depot Renovation Services USRES Wells Fargo Home Mortgage Xome 2018-11-16 Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Rebuilding Puerto Rico About Author: Radhika Ojhalast_img read more

HUD and SEC Encouraging Opportunity Zone Investment

first_imgHome / Daily Dose / HUD and SEC Encouraging Opportunity Zone Investment Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago July 16, 2019 1,741 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Seth Welborn Share Save Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: HUD Opportunity Zones Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, Investment, News HUD and SEC Encouraging Opportunity Zone Investment  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe HUD Opportunity Zones 2019-07-16 Seth Welborn Previous: HUD Announces Residential Reverse Mortgage Sale Next: What is Causing the Decline in Single-Family Authorizations? On Tuesday, Department of Housing and Urban Development (HUD) Secretary Ben Carson released a statement applauding the Securities and Exchange Commission’s (SEC) efforts to encourage Main Street capital investment in Opportunity Zones. “Opportunity Zones provide a community-specific incentive for long-term investment,” said SEC Chairman Clayton.  “The SEC staff statement and guidance about Opportunity Zones demonstrate that Main Street investors can invest in their communities in a manner that is compliant with our securities laws.” Read more about the SEC’s staff statement on Opportunity Zones here.“Opportunity Zones have the ability to enhance thousands of communities and improve millions of lives across the country,” said HUD Secretary Carson. “The steps the SEC has taken will help unlock more investments into Opportunity Zones, and more investment means better outcomes for the residents of these distressed communities.”In 2017, President Trump signed the Tax Cuts and Jobs Act, creating Opportunity Zones to stimulate long-term investments in low-income communities. The initiative offers capital gains tax relief to those who invest in these distressed areas, and the tax incentives are anticipated to spur $100 billion in private capital investment in Opportunity Zones.On Fox News’ “The Next Revolution with Steve Hilton” earlier this year, Carson noted that Opportunity Zones were set up to enable private investors to re-invest profits into designated areas, and investors “are going to invest that money somewhere.” He noted private investors would do what they do because they “want to be successful.”Charles Tassell, COO for the National Real Estate Investors Association, talked opportunity zones in the March issue of DS News.“Whether you call them Opp-Zones, OZones, or OZos, the investment flood is coming to a low-income census tract near you,” said Tassell.“While digesting the rules, it would be a good idea to find out where those areas are near you and prepare for investments and options for investments there—before the December 31, 2026 deadline,” Tassell added. “The summary of benefits includes deferred taxes on the investment in an opportunity zone, deferred taxes on income reinvested in opportunity zones, and tax forgiveness on improvements in the value of the building at sale time in opportunity zones—if it is held for 10 years.”last_img read more

Unprecedented Equity Could Help Prevent ‘Foreclosure Tsunami’

first_img The Best Markets For Residential Property Investors 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Unprecedented Equity Could Help Prevent ‘Foreclosure Tsunami’ Demand Propels Home Prices Upward 2 days ago December 23, 2020 2,181 Views Efforts at federal and local levels to help homeowners into forbearance rather than foreclosure have been enormously effective, according to economists, but the uncertainty and temporary nature of those protections leave the market at risk of a possible wave of foreclosures.”At the peak in early June, 8.6% of all mortgage loans were in forbearance. Since then, forbearance levels have fallen as the economy has improved, but 5.5% of mortgage loans are still in forbearance, so risk to the housing market remains,” explained First American Mortgage economist Odeta Kushi in an article about the significance of home equity when it comes to avoiding foreclosure.According to Kushi, “The distress that many homeowners face in this recession is real but, because of the equity buffer, we are likely to avoid the foreclosure tsunami many are predicting.”Here is how she explains it: “The foreclosure process is based on two steps. First, the homeowner suffers an adverse economic shock, such as a loss of income, leading to the homeowner becoming delinquent on their mortgage. However, delinquency by itself, even serious delinquency, is not enough to send a mortgage into foreclosure. With enough equity, a homeowner has the option of selling their home, or tapping into their equity through a refinance, to help weather the economic shock. It is a lack of sufficient equity, the second component of the dual trigger, that causes serious delinquency to become a foreclosure.”She points out that equity levels in many markets across the country are 40% or higher than they were during the Great Recession, which provides a “protective buffer” against foreclosure.She added, “in addition to existing homeowner equity, house price appreciation driven by an undersupply of housing inventory relative to demand continues to push equity levels up across the country.” That means that if distressed homeowners are forced to resolve delinquency at some point, an equity buffer would more likely result in a reluctant sale as opposed to a foreclosure.The full report, including a list of metro areas with the greatest average home equity among homeowners is available on First American’s blog at blog.firstam.com. Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Previous: Homes in Large Cities Are Less Affordable Than Ever Next: Anniversary and Additions at the CFPB The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Share Save The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2020-12-23 Christina Hughes Babb Home / Daily Dose / Unprecedented Equity Could Help Prevent ‘Foreclosure Tsunami’ Servicers Navigate the Post-Pandemic World 2 days ago About Author: Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Loss Mitigation, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

Northwest MEP says more support needed for emigrants

first_img Marian Harkin MEPA North West MEP says a Junior Minister should be given specific responsibilities for supporting emigrants.Marian Harkin, who this week launched a National Youth Council report on emigration says emigrants must be supported before they leave, and encouraged to return to Ireland when circumstances improve and there is a need for their skills and expertise.In particular, she says, there is a need for a one stop shop web portal which can guide emigrants through what can be a very difficult process.Ms Harkin says there’s been a trend in the past of forgetting about emigrants once they have gone……[podcast]http://www.highlandradio.com/wp-content/uploads/2013/05/mhark830.mp3[/podcast] Almost 10,000 appointments cancelled in Saolta Hospital Group this week Facebook Twitter Guidelines for reopening of hospitality sector published Google+ Calls for maternity restrictions to be lifted at LUH WhatsApp Pinterest NPHET ‘positive’ on easing restrictions – Donnelly Northwest MEP says more support needed for emigrants Google+center_img Three factors driving Donegal housing market – Robinson WhatsApp Previous articlePresident of the Massachusetts Senate to visit Donegal todayNext articleUpdate:INMO says Health Minister’s reception depends on what he has to say News Highland RELATED ARTICLESMORE FROM AUTHOR LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Twitter News Pinterest Facebook By News Highland – May 10, 2013 last_img read more

Search for missing teenager resumes on Lough Swilly

first_img Three factors driving Donegal housing market – Robinson LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton RELATED ARTICLESMORE FROM AUTHOR Pinterest Twitter Previous articleStrabane bookmakers badly damaged in overnight arson attackNext articleNorovirus outbreak closes Altnagelvin Hospital ward News Highland Newsx Adverts WhatsApp By News Highland – July 23, 2011 Facebook Facebook Google+center_img Guidelines for reopening of hospitality sector published Almost 10,000 appointments cancelled in Saolta Hospital Group this week Pinterest The search for missing teenager Sean Mc Nair resumed on Lough Swilly at 5 o clock this morning, with members of the Irish Coastguard and the RNLI carrying out searchs in and around the Lough throughout today.Naval divers are also in the water, and volunteers are carrying out shoreline seaches.The 17-year-old from Derry hasn’t been seen since the early hours of Saturday morning last.Derek Flanagan, of the Irish Coastguard is coordinating the search, and says they are not giving up hope of finding him…..[podcast]http://www.highlandradio.com/wp-content/uploads/2011/07/dersatday.mp3[/podcast] Google+ Calls for maternity restrictions to be lifted at LUH Twitter Search for missing teenager resumes on Lough Swilly WhatsApp Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more

Gardai investigate weekend fire at St Johnston farm

first_imgNewsx Adverts Facebook WhatsApp By News Highland – December 6, 2010 Twitter Gardai have confirmed they are investigating the cause a fire at a farm in St Johnston on Saturday afternoon. The blaze broke out in a shed, and was reported at around half past three.12,000 square feet of shed space was damaged, as were two trailers and other items of machinery. Around 1,500 bales of straw were also destroyed. A forensics team has carried out a thorough probe of the area.It’s understood arson is suspected – Gardai have confirmed they are treating the fire as suspicious, and investigastions are continuing. RELATED ARTICLESMORE FROM AUTHOR Gardai investigate weekend fire at St Johnston farm Google+ Pinterest Twitter LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton center_img Guidelines for reopening of hospitality sector published Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Google+ WhatsApp Pinterest Calls for maternity restrictions to be lifted at LUH Previous articleCouncil closes Back of Errigal Road and MeenaroyNext articleGarda warn snowball throwers to desist News Highland Almost 10,000 appointments cancelled in Saolta Hospital Group this week Facebook Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more