RealtyTrac - Articles

Repossessions Drop to Lowest Level in More Than 6 Years

Alamy By ALEX VEIGA LOS ANGELES -- Lenders repossessed fewer U.S. homes in January, bringing the number of completed foreclosures down to the lowest level in more than six years. Even so, many states posted sharp increases in the number of homes entering the foreclosure process for the first time, a trend that raises the... Continue Reading »

Homes Lost to Foreclosure Hit 6-year Low Last Year

Alamy By ALEX VEIGA LOS ANGELES -- The number of U.S. homes that got started on the path to foreclosure fell last year to a low not seen since before the high-flying days of the housing boom, the latest evidence that the threat of foreclosures continues to diminish. Lenders also took back the fewest number of homes last... Continue Reading »

Fewer U.S. Homes Entered Foreclosure Track in 3Q

John Moore/Getty Images By ALEX VEIGA LOS ANGELES -- The number of U.S. homes set on the path to foreclosure slid to a seven-year low in the third quarter, reflecting a gradually improving housing market and fewer homeowners falling behind on mortgage payments. Lenders initiated foreclosure action on 174,366 homes in the... Continue Reading »

Fewer U.S. Homes Headed Into Foreclosure in August

Justin Sullivan/Getty Images By ALEX VEIGA LOS ANGELES -- Lenders initiated foreclosure action in August against the fewest U.S. homes for any month in nearly eight years, a trend that should help reduce the number of homes lost to foreclosure in the months ahead. Some 55,775 homes entered the foreclosure process last... Continue Reading »

Home Foreclosures on Track to End 2013 at 6-Year Low

Jae C. Hong/AP By ALEX VEIGA LOS ANGELES -- The U.S. is on track to end the year with the fewest homes repossessed by lenders in six years, a trend that should help limit the negative impact foreclosures have on home values. Lenders repossessed 36,964 U.S. homes last month, down 31 percent from July last year,... Continue Reading »

Good News for Homeowners: Fewer Foreclosures in June

Matt York/AP NEW YORK -- U.S. home foreclosure filings tumbled in June to a 6½-year low, a further sign the housing market is getting back on better footing, a report from RealtyTrac showed Thursday. Overall, 127,790 properties had foreclosure filings last month, down 14 percent from May, and down 35 percent from a... Continue Reading »

Home Foreclosures Fall to Lowest Level in Nearly 8 Years

Ariel Skelley/Getty Images By ALEX VEIGA LOS ANGELES -- Fewer U.S. homes entered the foreclosure process or were repossessed by banks in June, the latest sign that the nation is shaking off its housing bust hangover. Lenders initiated the foreclosure process on 57,286 homes last month, the lowest level for any month in... Continue Reading »

Struggling Homeowners Turned to Short Sales in 2012

By Les Christie Struggling homeowners increasingly turned to short sales to get out from under mortgage debt last year. There were nearly three times as many short sales as there were sales of foreclosed homes in 2012, according to RealtyTrac. Foreclosures accounted for 11 percent of all sales, down from 13 percent a... Continue Reading »

10 Best States to Default on Your Mortgage

Defaulting on your mortgage inevitably pushes you into the foreclosure process, and that can be a very traumatic experience. But there is a glimmer of hope, even if you're already getting phone calls and notices warning you of impending foreclosure. If you live in a state where it takes an exceptionally long time to... Continue Reading »

Foreclosure Statistics Drop in 3rd Quarter

A majority of the largest metropolitan areas in the U.S. recently received good news on the mortgage front, as foreclosures dropped in the third quarter. Home seizure activity slumped on an annual basis in 62 percent of the nation's 212 largest population centers during the period, according to the latest data from the... Continue Reading »

RealtyTrac Election Housing Report Finds Housing Market Worse Off than in 2008

Despite the many recent signs of life in the real estate market -- one possible explanation for why housing policy has remained largely absent from the presidential debates -- the reality is still grim. The market is far down from where it was in 2008, when the financial crisis was reaching its peak, let alone the days of... Continue Reading »

Short Sales Could Spike This Summer, Data Suggests

Due to a confluence of several factors, experts predict that there will likely be a significant uptick in the number of short sales for distressed properties throughout the rest of the year, with a spike coming over the next few months. The market for short sales -- that is, underwater homeowners selling their houses... Continue Reading »

Underwater Homes: Top 10 States With the Most Negative-Equity Mortgages

Underwater mortgages have plagued the housing market since the housing bubble burst in 2006. Rapidly declining prices meant that homeowners started to owe more on their mortgages than their homes were worth. This can lead to short sales, foreclosures, and a serious blow to a households' net worth. CoreLogic released... Continue Reading »

Where to Snag Beach Homes on the Cheap

We're combining two of our favorite things: Summer vacations and discount houses using RealtyTrac's recent list of the 10 best beach towns for buying foreclosures. RealtyTrac's ranking is based on the size of the discount that homebuyers can get in purchasing a foreclosure -- compared to other residential properties in... Continue Reading »

Foreclosures Made Up 26% of All Home Sales in 1st Quarter

By Jessica Dickler Homes in some stage of foreclosure accounted for more than 1 in 4 home sales during the first three months of the year, according to a report released Thursday. Distressed properties that were either in default, scheduled for auction or bank-owned accounted for 26 percent of all residential sales... Continue Reading »

RealtyTrac: January Rise in Foreclosures Portends 2012 Trend

Foreclosure filings ticked up 3 percent in January, as the foreclosure logjam triggered by government investigations over foreclosure abuses continued to untangle. That's according to a new report from online foreclosure marketplace RealtyTrac. But the effects of federal and state action still remain visible, with... Continue Reading »

Mortgage Settlement Will Lead to More Foreclosures, Experts Say

By Chris Isidore, CNNMoney NEW YORK -- Even as the $26 billion mortgage settlement helps hundreds of thousands of troubled homeowners, it will bring a wave of new foreclosures. Many lenders held off on reposessing homes during the complex negotiations between 49 state attorneys general, and federal officials. That's... Continue Reading »

Foreclosure Actions at Lowest Level Since 2007

After a year marred by red tape and mortgage lender malfeasance, foreclosure activity in 2011 fell to the lowest annual rate since the housing crisis began more than four years ago, according to data released Thursday. Foreclosure filings -- which include default notices, scheduled auctions and bank repossessions -- were... Continue Reading »

10 Cities Getting Slammed by Foreclosures

Foreclosures have increased 14% between the second and third quarter of 2011, following five straight quarters where the number of foreclosures has gone down. This increase could dampen the recovery of the American housing market and harm economic recovery for cities where foreclosures rose significantly. Based on data... Continue Reading »

Viewpoint: What's Behind Banks' Big Foreclosure Push?

What does it mean that Bank of America and other lenders have restarted their foreclosure engines with a vengeance? Was the 7 percent spike in month-over-month foreclosure filings a retaliatory strike to show the government that the banks mean business and aren't to be messed with? Did lenders use the hapless public to... Continue Reading »

Foreclosures Set to Surge Again

LOS ANGELES -- Banks have stepped up their actions against homeowners who have fallen behind on their mortgage payments, setting the stage for a fresh wave of foreclosures. The number of U.S. homes that received an initial default notice -- the first step in the foreclosure process -- jumped 33 percent in August from... Continue Reading »

Foreclosed Properties Selling at Even Steeper Discounts

The share of bank-owned homes and homes in some stage of foreclosure dropped 5 percent from the first quarter to the second quarter of 2011, falling from 36 percent to 31 percent, but was up from 24 percent in second-quarter 2010, according to a report released today by foreclosure data provider RealtyTrac. And distressed... Continue Reading »

New Foreclosures Down Steeply in July

LOS ANGELES -- Fewer U.S. homes entered the foreclosure process or were seized by lenders in July, the latest sign that banks are taking a measured approach to moving against homeowners who have fallen behind on mortgage payments. Some 59,516 homes received an initial default notice last month, down 7 percent from June... Continue Reading »

Foreclosures Down, but Don't Cheer Yet

Foreclosure activity has fallen to a 40-month low, but not because of any recovery in the housing market, a new report finds. Rather, the slowdown comes from massive delays in processing foreclosure paperwork. In April, overall foreclosure filings - including default notices, scheduled auctions and bank repossessions -... Continue Reading »

Foreclosure Filings Drop, But Recovery Still a Flop

The vast numbers of foreclosures that have flooded the market since the recession took hold have finally started to subside – but a full-blown recovery may still be far in the distant future. Foreclosure filings in the first quarter have dropped below early 2008 levels, according to a report released Thursday by... Continue Reading »

Foreclosures Drop Is Just a Drop in the Bucket

The headlines blared last week about a 27 percent drop in foreclosures, after RealtyTrac released their U.S. Foreclosure Market Report for February. On the surface, it looked like maybe it was positive. And most journalists covered the release as good news for the housing market. But when examined closely, it is perhaps... Continue Reading »

Foreclosures Fall, and Why That's Bad News

Bad news: The number of foreclosure actions taken by banks fell in January compared to the year before, according to the researchers at RealtyTrac. Foreclosures fall: bad news. Yes, you read that right. Banks seized fewer homes in January, and that's bad news for everyone. Here's how Rick Sharga, senior vice president... Continue Reading »

Future Foreclosure Hotspots You Would Not Believe

When we talk about foreclosure central, everyone assumes we are talking the sand states -- Las Vegas, where, in 2010, one out of every nine households received a foreclosure notice, Phoenix, or Florida. Yep, still hot foreclosure areas, but there are others out there that may surprise. These are cities where times may have... Continue Reading »

Home Foreclosures Roll on at Record Rates

Foreclosure -- the beast that is eating the housing market -- barely paused in October, despite the latest housing scandal. Experts thought foreclosures might go into hibernation after lenders botched thousands of foreclosures with skipped steps and faulty documentation. In at least one case, a single bank official signed... Continue Reading »

Foreclosure Listings: Same Cities in Top 10

After years of foreclosures and foreclosure auctions, why do the same few places still have the most foreclosures? The top 10 list of housing markets with the highest rates of foreclosure actions is almost exactly the same as it was last year, according to the third quarter list from RealtyTrac. Las Vegas is still... Continue Reading »

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