Ok so 3 more posts today that I’ve dug up – I’m an information JUNKIE on this stuff lately. Give em a browse and let me know what ya reckon. They’re just from a few different sites I’ve been surfing lately that are generally good for information like this…
Strong Markets Pump Up Home Sales
Earlier this week, the National Association of Realtors reported sales of existing, or previously owned, homes jumped 7.6% in April from the same month a … Read More…
Brick Brick: LEGO Houses for Westbrook, LEGO-building contest for adults; benefits Habitat for Humanity of Greater Portland, Empire Dine and Dance, Portland … Read More…
I've narrowed it down to Providence, RI, Portland, ME, or Charlotte, NC – any thoughts on which would best fit those criteria? Any other suggestions? … Read More…
That’s all the news for today guys, so until next time, thanks for stopping by.
Oregon Loan Default Rises, Foreclosed Home Auctions Grow
As home loan delinquencies rise in Oregon, more properties are listed for disposition through foreclosed home auctions, based on data gathered by First American CoreLogic and TransUnion.
First American CoreLogic is a company based in Santa Ana, California that tracks foreclosures, mortgage data and other real estate transactions in more than 3,000 counties nationwide.
TransUnion LLC meanwhile is based in Chicago and tracks and manages credit information for over 500 million consumers around the world.
Among all the states, Oregon has become the third in terms of home loan delinquency rate growth. Delinquent loans considered are those loans which are past due by two months or more.
Based on First American data, Oregon’s foreclosure rate has risen in April to 0.97 percent, an increase of 0.33 percent, compared to the 0.64 percent level in April 2008.
Based on RealtyTrac data, there were 1,916 REO properties in the first quarter and another 604 REO properties in April, many of which were probably already sold in foreclosed home auctions.
In the same month, 2.86 percent of all mortgage loans in Oregon were already behind by three months or more. In April last year, only 1.62 percent of home loans were in default.
Based on TransUnion data, the top three states in growth of delinquency rates this quarter were Hawaii, Oregon and Nevada. In Hawaii, delinquency rates went up by 34.4 percent. In Oregon, rates rose by 30.7 percent while rates climbed by 28.9 percent in Nevada.
Keith Carson, a head consultant at the financial services group of TransUnion, said the average quarterly growth rate of mortgage delinquency rate this year is an ongoing
1000
concern because the growth rate is almost double the pace in the 2001 recession. The rising number of foreclosed home auctions held to sell distressed properties is also a result of rising delinquency.
However, Carson expressed hope that the long-awaited decrease of the growth rate in national loan delinquency rate since 2007 is an indication that the delinquency picture is getting better.
In the areas covered by Portland, Beaverton and Vancouver, a total of 23, 259 homes received foreclosure notices from May last year to April this year, a percentage of which are already in foreclosed home auctions.
Two other states that showed declines in home loan delinquency rates were South Dakota and Nebraska.
Carson of TransUnion said that the drop in home loan delinquency rates in some states could also be signaling a drop in properties listed in these states’ foreclosed home auctions.
By: Joseph Smith
Article Directory: http://www.articledashboard.com
Joseph Smith has been educating buyers on the finer points of Seattle Foreclose Homes for Sale at Foreclosure-Repo-Auction.com for over five years.
Back with more news for you today. It’s amazing how much good information there is on this stuff out there if you know where to look. Three in particular that I found really valuable were…
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“After listing a modest Portland home for $175000 in a neighborhood with no other homes for sale, Keller Williams principal broker Nick Krautter thought he might have an easy sale. But only days later, a bank-owned sign popped up in …
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