Foreclosures

The defendants and an attorney convinced homeowners to hand over their properties while the pair filed bogus claims to keep creditors’ foreclosures at bay.

The residential market is generally healthy, but distress is growing in areas where foreclosures are more common, homes are less affordable, and more properties are underwater, Attom finds.

COVID loan forbearance championed by progressives has created a new, permanent class of distressed borrower, Whalen writes.

Borrowers accepting federal loan modifications saw payments on principal and interest reduced between 27% and 33%, according to estimates by the Federal Reserve Bank of Philadelphia.

The state has distinct loss mitigation policies, and particularly complex rules for foreclosures scheduled to fully restart when its ban ends — and other states could write similar rules.

However, the serious delinquency rate dropped to a point significantly below the market-wide average, and much of the foreclosure activity allowed to proceed did so with new consumer protections in place.

The Servicemembers Civil Relief Act includes extra protections aimed at preventing foreclosure for homeowners in the military.

However, the seven institutions in the Office of the Comptroller of the Currency study service 13% fewer loans compared with the third quarter of last year.

However the numbers for November were still up from a year ago, when bans and forbearance were still largely in place.

Bargain-hunting buyers are willing to make a purchase on the courthouse steps or via online sale, according to ServiceLink.