Distressed

As interest rates tumbled throughout July, prepayments climbed to the highest monthly rate since 2004, but 90-days-or-more delinquencies were on the rise from June, according to Black Knight.

Rather than letting zombie properties sit vacant, selling them to new owners and getting them reoccupied, creates the desired outcome.

Positive payment behaviors in conjunction with CARES Act measures kept mortgage delinquencies from rising, but the number of borrowers facing hardship grew exponentially from last year, according to TransUnion.

Travel restrictions have left hotels like Miami Beach's Fontainebleau struggling to repay their mortgage loans.

The Tri-COG Land Bank, a multicommunity effort to get abandoned and blighted properties back on the tax rolls, has sold its first property.

The city of Birmingham plans to set aside nearly $1 million in the 2021 budget to prop up the underperforming CrossPlex Village development in Five Points West, city officials said.

With the moratorium still in place, mortgage foreclosure activity fell 83% in July compared to the year before and 4% from June, according to Attom Data Solutions.

Borrowers will likely have to put more assets on the line to get forbearance extensions.

Late home payments increased in this community that hosts the Masters, according to a California-based real estate analytics firm.

Mortgage delinquency rates in May were even higher in some Texas markets.