Foreclosures

The latest increase marks the seventh straight quarterly rise, per an Attom report.

A total of 8,800 homes facing foreclosure are currently sitting vacant, up from the previous quarter, a report from Attom reported.

HPC and the MBA called on John Bell, executive director at the agency, to disclose a blueprint of the VASP program and allow for a 30-day commentary period.

But the volume of activity for distressed properties is still lower than the historic norms, Attom Data Solutions said.

There's quite a bit of inventory out there that would have otherwise been returned to the market but for unduly harsh political theater writes the CEO of the National REO Brokers Association.

Over one-third of the struggling borrowers who received recast loan terms in the first quarter cut their monthly obligation by 20% or more.

Some borrowers reportedly balk at moving to longer terms to modify as the popping of tiny housing bubbles potentially puts new strain on performance.

The legislation makes a temporary policy that more than 1,500 distressed homeowners have used a long-term legal requirement, according to RIHousing.

Real-estate owned numbers experienced a particularly large 38% rise from the previous month while filings climbed back to March levels after slipping in April.

But more potential owner-occupants are entering this market as a result of tight housing market conditions, Auction.com found.