g********n
发帖数: 2314 | 1 Foreclosure starts jump in March; repossessions decline.
* Les Christie, CNNMoney.com staff writer
* On Thursday April 30, 2009, 11:31 am EDT
Lenders continued to rewrite troubled mortgages at a fast clip during March,
but the weakening economy still sent foreclosure starts soaring to a record
high.
March mortgage workout results announced on Thursday by Hope Now - a
coalition of mortgage lenders, servicers, investors and community groups put
together to fight the foreclosure plague - were a decidedly mixed bag.
Approximately 134,000 mortgages were rewritten by Hope Now members, which is
nearly 20,000 more than the average since September. Another 115,000 at-
risk borrowers were granted repayment plans, for a total of nearly a quarter
of million troubled mortgages addressed for the month.
Repayment plans merely postpone payments for delinquent borrowers without
making them any more affordable. Mortgage modifications are changes in the
terms of loans that reduce or freeze interest rates, extend the life of the
loan, reduce loan balances or any combination of those three, to, ideally,
lower the amount borrowers pay monthly. Modifications are considered more
effective that repayment plans.
"The lending industry is steadily working out solutions for homeowners and
keeping as many as possible in their homes," said Faith Schwartz, director
of Hope Now. "I expect that these numbers will continue to increase as
servicers work with the Obama Administration to implement its Homeowner
Affordability and Stability Plan."
Steep spike in starts
Despite the efforts, however, more homeowners fell into default in March.
Servicers initiated foreclosure proceedings against 290,000 mortgage
borrowers, a jump of nearly 20% from February's 243,000, and the highest
monthly total since the coalition began tracking data in mid-2007. Starts
have risen by more than a third since January.
On the other hand, completed foreclosure sales, transactions in which
lenders have actually taken back homes from defaulting borrowers, dropped by
39% in March. Banks repossessed only 53,000 homes compared with 87,000
taken over during February. | f***f
发帖数: 1842 | 2 where are they?
how long do I need to wait these houses go on market like san ramon?
Now less and less house in san ramon:( | g********n
发帖数: 2314 | 3 3-6 months
【在 f***f 的大作中提到】
: where are they?
: how long do I need to wait these houses go on market like san ramon?
: Now less and less house in san ramon:(
| k***r
发帖数: 4260 | 4 This sounds like bad news for fanghei yah.
"completed foreclosure sales, transactions in which
lenders have actually taken back homes from defaulting
borrowers, dropped by39% in March. Banks repossessed
only 53,000 homes compared with 87,000 taken over
during February." |
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