Exotic-loan resets could hit commercial market
By Sandra Baker / Star-Telegram
September 27, 2009
An increasing number of commercial property loans may go into default in the coming months, as interest-only loans that were issued in the past several years reset, an industry expert said.
"There’s a massive amount of these loans ready to hit market," said Ben Loughry, managing partner of Integra Realty Resources in Fort Worth and Dallas. "The commercial real estate bubble is continuing to grow."
Loughry spoke at last week’s monthly meeting of the Society of Commercial Realtors.
Moreover, commercial sales are down nationwide by 90 percent and locally by 70 percent, he said.
Full Story
Wednesday, September 30, 2009
Friday, September 25, 2009
Dallas-Fort Worth home foreclosure filings jump 34%
Dallas-Fort Worth home foreclosure filings jump 34%
By Steve Brown / The Dallas Morning News
September 18, 2009
The number of homes facing foreclosure in Dallas-Fort Worth next month shot up 34 percent from a year ago.
Much of the increase is due to loan modification programs, which have delayed foreclosures from previous months.
Almost 6,000 homes are scheduled to be sold at foreclosure next month, Addison-based Foreclosure Listing Service said Thursday.
Full Story
By Steve Brown / The Dallas Morning News
September 18, 2009
The number of homes facing foreclosure in Dallas-Fort Worth next month shot up 34 percent from a year ago.
Much of the increase is due to loan modification programs, which have delayed foreclosures from previous months.
Almost 6,000 homes are scheduled to be sold at foreclosure next month, Addison-based Foreclosure Listing Service said Thursday.
Full Story
Friday, September 4, 2009
Foreclosures Rise in Texas
Texans continued to fall behind on their mortgage payments in the second quarter, and more than one in 10 Texas mortgages are late or in foreclosure.
At the end of June, 8.79 percent of residential mortgages in the state had delinquent payments and 1.84 percent went into foreclosure, the Mortgage Bankers Association reported Thursday.
Both figures rose compared with the first quarter.
Nationwide, a record 9.24 percent of residential loans were delinquent in the quarter. The closely watched measure includes all mortgages that are at least one payment behind. Texas ranks 17th nationally among states when ranked by the percentage of late mortgage payments.
The national average foreclosure rate in the second quarter was 3 percent.
Just four states – California, Florida, Arizona and Nevada – accounted for 44 percent of the nation's new home foreclosures during the second quarter, the Washington, D.C.-based trade group said.
Full Story Dallas News
At the end of June, 8.79 percent of residential mortgages in the state had delinquent payments and 1.84 percent went into foreclosure, the Mortgage Bankers Association reported Thursday.
Both figures rose compared with the first quarter.
Nationwide, a record 9.24 percent of residential loans were delinquent in the quarter. The closely watched measure includes all mortgages that are at least one payment behind. Texas ranks 17th nationally among states when ranked by the percentage of late mortgage payments.
The national average foreclosure rate in the second quarter was 3 percent.
Just four states – California, Florida, Arizona and Nevada – accounted for 44 percent of the nation's new home foreclosures during the second quarter, the Washington, D.C.-based trade group said.
Full Story Dallas News
Friday, May 22, 2009
Median home prices up slightly in April
May 22, 2009 Carolyn Said, Chronicle Staff Writer
Bay Area home sales delivered a smidgen of good news in April - but it came laden with the caveat that it's too soon to declare a turn-around in the beleaguered real estate market.
While home prices plunged compared with the same time last year, the median sales price for existing homes in the nine-county region inched up 4.2 percent in April compared with March, according to MDA DataQuick, a San Diego research firm. It was the first time since October 2007 that the median rose compared with the previous month.
Full Story
Bay Area home sales delivered a smidgen of good news in April - but it came laden with the caveat that it's too soon to declare a turn-around in the beleaguered real estate market.
While home prices plunged compared with the same time last year, the median sales price for existing homes in the nine-county region inched up 4.2 percent in April compared with March, according to MDA DataQuick, a San Diego research firm. It was the first time since October 2007 that the median rose compared with the previous month.
Full Story
Survey: More buyers interested in foreclosed homes
May 21, 2009
By STEVE BROWN / The Dallas Morning News
With home foreclosures soaring in most parts of the country, the number of interested buyers of these properties is growing.
More than half – 55 percent - of Americans quizzed for a new survey said they would consider purchasing a previously foreclosed house. That’s up significantly in the last
few months, according to the survey which was done by Harris Interactive.
The survey of almost 2,400 consumers was done in early May for Internet real estate firms Trulia.com and RealtyTrac.
Full story
By STEVE BROWN / The Dallas Morning News
With home foreclosures soaring in most parts of the country, the number of interested buyers of these properties is growing.
More than half – 55 percent - of Americans quizzed for a new survey said they would consider purchasing a previously foreclosed house. That’s up significantly in the last
few months, according to the survey which was done by Harris Interactive.
The survey of almost 2,400 consumers was done in early May for Internet real estate firms Trulia.com and RealtyTrac.
Full story
Tuesday, March 31, 2009
Dramatic increase in prime-loan foreclosures
Dramatic increase in prime-loan foreclosures
Workouts not keeping pace
By Inman News, Tuesday, March 31, 2009.
Inman News
Foreclosure starts and foreclosure sales of homes purchased with prime loans increased dramatically from January to February, and the percentage of homes completing the foreclosure process approached highs not seen since last summer.
The latest report from mortgage servicers participating in the lending industry's HOPE NOW alliance shows that despite continued strides in helping subprime borrowers avoid foreclosure, foreclosures and foreclosure sales among prime borrowers continue to climb.
HOPE NOW put the number of foreclosure starts on prime loans during February at 157,000, a 25 percent increase from the month before. Foreclosure starts on subprime loans fell by 5 percent, to 86,000.
The record 243,000 foreclosure starts recorded in February represented a 12 percent increase from the month before and a 36 percent increase from a year ago.
While payment shock for subprime borrowers with adjustable-rate mortgage (ARM) loans was once viewed as a primary driver of delinquencies and foreclosures, delinquency rates on prime fixed-rate and subprime fixed-rate loans continue to climb, thanks to job losses and pay cuts, the Mortgage Bankers Association reported this month (see story).
HOPE NOW loan servicers reported making more than twice as many loan modifications for subprime borrowers in February (91,333) than they did for prime borrowers (42,503). More prime borrowers got repayment plans -- 64,605 were negotiated last month, compared with 46,033 for subprime borrowers.
Not all homes that enter the foreclosure process end up being sold by lenders -- some borrowers are able to refinance their loans, or negotiate short sales or loan workouts with lenders.
The HOPE NOW alliance said it helped 244,000 borrowers avoid foreclosure in February by instituting workouts including loan modifications and repayment plans. ...CONTINUED
Full Story
Workouts not keeping pace
By Inman News, Tuesday, March 31, 2009.
Inman News
Foreclosure starts and foreclosure sales of homes purchased with prime loans increased dramatically from January to February, and the percentage of homes completing the foreclosure process approached highs not seen since last summer.
The latest report from mortgage servicers participating in the lending industry's HOPE NOW alliance shows that despite continued strides in helping subprime borrowers avoid foreclosure, foreclosures and foreclosure sales among prime borrowers continue to climb.
HOPE NOW put the number of foreclosure starts on prime loans during February at 157,000, a 25 percent increase from the month before. Foreclosure starts on subprime loans fell by 5 percent, to 86,000.
The record 243,000 foreclosure starts recorded in February represented a 12 percent increase from the month before and a 36 percent increase from a year ago.
While payment shock for subprime borrowers with adjustable-rate mortgage (ARM) loans was once viewed as a primary driver of delinquencies and foreclosures, delinquency rates on prime fixed-rate and subprime fixed-rate loans continue to climb, thanks to job losses and pay cuts, the Mortgage Bankers Association reported this month (see story).
HOPE NOW loan servicers reported making more than twice as many loan modifications for subprime borrowers in February (91,333) than they did for prime borrowers (42,503). More prime borrowers got repayment plans -- 64,605 were negotiated last month, compared with 46,033 for subprime borrowers.
Not all homes that enter the foreclosure process end up being sold by lenders -- some borrowers are able to refinance their loans, or negotiate short sales or loan workouts with lenders.
The HOPE NOW alliance said it helped 244,000 borrowers avoid foreclosure in February by instituting workouts including loan modifications and repayment plans. ...CONTINUED
Full Story
Tuesday, October 28, 2008
Texas REO | Bank foreclosure
TEXAS REO BANK FORECLOSURES: A "Real Estate Owned" Home (REO Home) is a Bank Foreclosure. REO homes are homes that have gone through foreclosure and are now owned by the bank. Due to the recent housing bubble, Bank Owned REOs are more prevelant than ever. The time to get a good deal on foreclosure real estate is now.
REO Homes
REO Homes
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