Posts Tagged ‘CoreLogic’

Foreclosures hold steady

The imminent wave of foreclosures has still yet to strike with new numbers out from Lender Processing Services, Inc. showing that March foreclosures have stayed steady. The new data from LPS also shows that are still down from March 2011.

69,000 foreclosures were completed in March, compared to 85,000 in March 2011 and 66,000 foreclosures in February 2012.

The Los Angeles Times reports: “About 1.4 million homes, or 3.4% of all homes with a mortgage, were at some stage in the foreclosure process last month, the same as in February but down slightly compared with 1.5 million in March 2011, Santa Ana research firm CoreLogic said.”

The rate of foreclosures has slowed since last year during accusations of faulty practices and improper paperwork by lenders. Experts have predicted that foreclosures are expected to rise again since the  national settlement was reached in February. However, there has been little uptick in the number of foreclosures which could be a result of the national mortgage settlement that pushes lenders to work with troubled borrowers to avoid foreclosure.


California Foreclosures Decrease

April 6, 2012 1 comment

CoreLogic reports that California had the third biggest decrease among U.S. states in the number of homes at some stage in the foreclosure process, according to the Orange County Register.

The report also states that in February, 2.4 percent of the California homeowners with a mortgage faced the possibility of foreclosure – which equals about 160,000 households.

The Orange County Register reports that CoreLogic’s February numbers showed:

  • 6.7 percent of the state’s mortgaged homes, or about 458,000 households, were 90 days or more late on their house payments. That’s down from 9 percent in February of last year.
  • Banks seized 154,212 homes through foreclosure in the 12 months ending in February.
  • Nationwide, banks seized 3.4 million homes through foreclosure during the past 3 ½ years – more than 860,000 of them in the past year.
  • An additional 1.4 million U.S. homes, or 3.4 percent of all homes with a mortgage, were in the foreclosure process.
  • That’s down from 3.6 percent in February of last year, when 1.5 million U.S. households were in the foreclosure process.

Negative Equity

December 1, 2011 Leave a comment

Often referred to as “Underwater,” negative equity, as it applies to mortgages, occurs when the value of a home used to secure a loan is less than the outstanding balance on the loan.

Nearly 11 million properties nationwide had negative equity at the end of the second quarter of 2011, according to market research firm CoreLogic. For details on the number of underwater homes in your state, check out this infographic:

Find out how many homes are underwater in your state.