Tag archives for foreclosure trends

New Jersey Gets a New Foreclosure Overseer

Yesterday a New Jersey judge created a special position for an individual to oversee foreclosure proceedings. Superior Court Judge Richard Williams has been appointed “Foreclosure Overseer,” meaning that he will oversee foreclosure matters in the state and “safeguard the foreclosure process.” The move follows state Supreme Court Chief Justice Stuart Rabner’s December order in which he demanded that major lenders Read full article »

Foreclosure Filings Drop Nationwide – Lowest Since 2008

According to RealtyTrac, foreclosure filings dropped 14 percent month-over-month from January 2011 to February. This includes default notices, scheduled auctions and bank repossessions, and is a 27 percent year-over-year decline nationwide. Of course, there are some areas that are exceptions, such as Seattle, which had a 69.7 percent year-over-year increase, creating an isolated foreclosure trend in the area while most Read full article »

Utah Bankers Call Loan Mods Virtually Impossible

According to the president of the Utah Bankers Association (UBA), Howard Headlee, it is “virtually impossible” for homeowners in the foreclosure process to renegotiate the terms of their loans. This statement was made in response to state legislature attempts to stem the “foreclosure wave” in the state, and Headless believes that as long as home loans are “almost immediately sold Read full article »

Foreclosures on the West Coast Reach Pre-Robo-Signer Volumes

While the rates of foreclosure in many states in the east have slowed to a crawl as judges, courts, homeowners and lenders struggle to determine just how to handle the continuing fallout from the robo-signer fiasco, the west coast is not experiencing the same delays. In fact, Foreclosure Radar, a California-based tracking firm, reported earlier this week that foreclosure auction Read full article »

New Premium Structure for FHA-Insured Loans Announced

In the future, even with excellent credit it’s going to cost you more to get a mortgage – at least if you are looking for the prime terms provided by many FHA loans. Yesterday the FHA announced that it will increase annual mortgage insurance premiums by 0.25 percentage points on 30- and 15-year loans. Upfront premiums will hold steady at Read full article »

The Politics of Real Estate

Few industries are as profoundly impacted by the political machinations in Washington as the real estate industry. Whether it's old legislation like Jimmy Carter's Community Reinvestment Act or Barack Obama's massive mortgage bailouts, the U.S. political machine has a huge impact (usually bad) on the business of real estate.

Ideally, we could ignore politics. But here at the Bryan Ellis Real Estate Letter, we insist on seeing the world with clarity - including the reality of Washington's aggressive involvement in every facet of our business, from mortgage lending to real estate sales license; from loan modification regulations to appraisal requirements... every piece of our business is profoundly impacted by politics. So rather than stick our heads in the sand and ignore reality, readers of the Bryan Ellis Real Estate Letter choose to be informed and prepared.

About Bryan Ellis

Bryan Ellis is an Atlanta-based real estate analyst and publisher of the widely read newsletter "The Bryan Ellis Real Estate Letter". With over 200,000 subscribers - including real estate investors, agents, brokers, appraisers and other real estate professionals - the Bryan Ellis Real Estate Letter is among America's largest sources of unbiased coverage of politics and public policy for the real estate industry.

Bryan Ellis serves as editor in chief for the Bryan Ellis Real Estate Letter and is assisted by an extraordinary staff of writers, researchers and editors who are each real estate experts in their own right and who assure that the news we report is well researched, factual, and highly relevant to today's real estate industry.

Bryan is very happily married and has two wonderful daughters. He makes his home in the suburbs of Atlanta, Georgia. You can contact the team at the Bryan Ellis Real Estate Letter here.