ForeclosureTruth | Foreclosure News, Opinions and Analysis

The Foreclosure Report – April 2012

Susan — Tue, 15 May 2012 01:41:55 +0000

Foreclosure Activity Declines Hurting Investors April 2012 Foreclosure Starts declined across our coverage area wiping out the small gains in new foreclosure filings last month. In California, Notice of Default filings are down 69.8 percent from the peak in March 2009, and 15.8 percent from April 2011. Notice of Trustee Sale Filings, the start of [...]

The housing crash was no accident; maybe it’s time to start assigning blame!

Michelle Lenahan — Wed, 18 Apr 2012 15:43:45 +0000

If you have ever been in an auto accident, you know that insurance adjusters from both sides examine the accident to determine the comparative negligence. If the fault was fifty percent yours, you are responsible for 50 percent of the damage. Having tracked hundreds of thousands of foreclosures, we have yet to see a single [...]

The Foreclosure Report – March 2012

Mike Daniel — Fri, 13 Apr 2012 14:08:40 +0000

For the second month in a row we’ve seen a dramatic drop in the number of properties sold at foreclosure, or “trustee sale”, auctions. Foreclosure sales in California are down 16.7 percent from February to March 2012 and down 53.1 percent from March a year ago. A total of 86,487 sales were scheduled to occur [...]

2012: The Year of the Short Sale?

Mike Daniel — Tue, 10 Apr 2012 23:35:41 +0000

As we mentioned in the February Foreclosure Report, government intervention into the foreclosure crisis has slowed the rate at which foreclosures go to trustee sale. As a result, there are fewer houses to buy, either at the auction, or from the banks as REOs. In fact, fewer auction properties went back to the bank in [...]

Which Line is for the $2,000 Payment?

Michelle Lenahan — Tue, 20 Mar 2012 21:16:50 +0000

In February, US Attorney General Eric Holder announced the unprecedented $25 billion national mortgage settlement with the five largest banks in the US. One of the provisions of the settlement is a $2,000 payment to homeowners who lost their homes to foreclosure. A month later, people are asking, “When am I going to get my [...]

The Foreclosure Report – February 2012

Mike Daniel — Tue, 13 Mar 2012 16:29:26 +0000

Foreclosure Activity Continues to Fall The “foreclosure wave” many predicted at the end of last year is beginning to look more like a drought, as foreclosure sales dropped significantly in February. Although sales to 3rd Parties, typically investors, were down month-over-month, as a percentage of all sales 3rd Parties purchased a record 37.6 percent of [...]

Head to Head: Home Price Index vs. Housing Affordability Index

Mike Daniel — Fri, 09 Mar 2012 22:12:55 +0000

Compare these two headlines: Case-Shiller Home Price Index Ends 2011 With New Lows (February 28, 2012) * Home Affordability Index Hits Record High (March 7, 2011) ** Throughout the housing crisis, the headlines have focused on the precipitous fall of prices and the resulting plight of homeowners who are underwater. There is no doubt that [...]

California to Enforce Overlooked Property Tax Law as a Source of Revenue

Mike Daniel — Tue, 28 Feb 2012 20:14:51 +0000

One of our real estate predictions will soon have an impact on your tax return. At the end of 2010, Sean O’Toole predicted that states would to look to property taxes to make up budget shortfalls. During 2011, the California Franchise Tax Board (FTB) proposed a change to Schedule CA to require the information necessary [...]

The Foreclosure Report – January 2012

Mike Daniel — Tue, 14 Feb 2012 17:57:20 +0000

Trustee Sale Investors Kickoff the New Year with Near Record Activity Real Estate investors started off 2012 with a bang. Sales to Third Parties, typically investors rose significantly in January throughout our coverage area, with the exception of Washington. California saw the most activity, with investors purchasing 3,964 properties for $766.2 million. Note that trustee [...]

The Foreclosure Report – December 2011

Mike Daniel — Thu, 12 Jan 2012 17:17:30 +0000

2011 Foreclosure Activity Ends With a Whimper Foreclosure Starts dropped significantly throughout our coverage area with the exception of a modest increase in Oregon. Foreclosure Sales were mixed, and down far less than we expected given lender announcements of holiday moratoriums. California and Washington actually saw modest increases. Also surprising was a drop in the [...]