Foreclosure Starts Spike Annually in Texas, Michigan and Florida; Highest. REOs Both at 11-Year High; Biggest Backlogs of Legacy Foreclosures in New York,
As of the end of February, foreclosure inventory levels stand at more than 30 times monthly foreclosure sales volume, indicating this backlog will continue for quite some time. Ultimately, these foreclosures will most likely reenter the market as REO properties, putting even more downward pressure on U.S. home values.
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Lender Processing Services’ (LPS) latest market report says foreclosure starts jumped 28 percent between December and January, and foreclosure sales soared 29 percent. "While one month of data does not necessarily indicate a trend, this surge could suggest the backlogged foreclosure pipeline is beginning to move," LPS said in its report.
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LPS Data shows long delays in Foreclosure Process. there is an enormous backlog of foreclosures in the pipeline that may be as great as 30 times the monthly sales volume of already foreclosed.
An Overview of Foreclosures January 24, 2013 Presented by:. Nor do they include approximately 3m housing units that stand vacant – foreclosed upon but not yet listed. To the extent short sales increase, the foreclosure pipeline will be reduced.
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Paddy Deighan is a real estate investor, attorney and advocate. This blog is dedicated to providing useful information, tips and guidelines for all of your real estate needs.
The New Jersey court system has reduced significantly the backlog of foreclosure cases and the time it takes to clear each one, according to a.
Although our Origination Services business was strong, fueled by the high refinance volumes, this was offset by declines in Default Services, which continue to be impacted by industry-wide foreclosure.
Approximate date of commencement of proposed sale to the public: As soon as practicable after this Registration Statement becomes effective. If any of the securities being registered on this Form are.
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