Posts Tagged: ‘bank repossessions’

RealtyTrac Reports Foreclosure Activity “Flat” in May

June 24, 2016 Posted by kingcade

Foreclosure filings, which include default notices, scheduled auctions and bank repossessions were reported on 100,841 properties in May, a number virtually unchanged when compared to April and a decrease of 21% from a year ago.  RealtyTrac’s U.S. Foreclosure Market Report reveals May was the eighth consecutive month with a “year-over-year” decrease.

Florida, New Jersey, Maryland, Delaware and Nevada were the states with the highest number of foreclosure filings for the month.

A total of 42,279 properties started the foreclosure process in May, down 3% from the previous month and down 18% from the previous year, according to RealtyTrac’s report. It was the 11th consecutive month with a year-over-year decrease.

A total of 34,014 bank repossessions were completed in May, up 1% from the previous month but still down 24% from a year ago. It was the third consecutive month with a year-over-year decrease in bank repossessions.

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Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.

Foreclosure Filings Fall in South Florida

December 10, 2015 Posted by kingcade

South Florida had a sharp decrease in foreclosure filings in November, losing its spot on the “Top 10 states with the highest number of foreclosures,” according to RealtyTrac’s foreclosure report.  There was one foreclosure filing per 645 homes in South Florida, ranking 12th among metro areas. The region once had the highest foreclosure rate in the nation.  However, with property values rising, homeowners who were previously underwater have been able to refinance or sell their homes.

Banks are continuing to work through the backlog of foreclosures.  The recent numbers mean the share of active foreclosures tied to the housing bubble burst are shrinking, with 59 percent of all loans in foreclosure originated between 2004 and 2008.   It continues to decrease from 61 percent earlier this year and 75 percent two years ago, according to Daren Blomquist, VP of RealtyTrac.

There were 3,824 South Florida foreclosure filings in November, down 38.9 percent from the same month a year ago.  This total includes new lawsuits, judgments and repossessions.  Repossessions accounted for the largest amount at 1,845, as most of the foreclosures are in their final stages.

Atlantic City, New Jersey led the nation in foreclosure filings with one foreclosure every 307 homes.

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Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.

 

U.S. sees Fewer Foreclosures as Banks Reclaim more Homes

May 16, 2014 Posted by kingcade

A report from RealtyTrac confirms foreclosure activity across the U.S. fell 1 percent last month, as banks scheduled fewer auctions and reclaimed more homes. The most recent drop, which includes foreclosure notices, scheduled auction and bank repossessions, is 20 percent below its year-ago level. It was also the 43rd consecutive month foreclosure activity was down on an annual basis.

Bank repossessions, still down 14 percent from a year ago, were up 4 percent in April, a likely result of the state and government interventions that slowed down the foreclosure process. In total, 30,056 homes were repossessed. According to real estate experts, the rise in bank repossessions is a sign that those markets are working through the final remnants of foreclosures left over from the housing market crash.

In Florida, one in every 400 homes is facing foreclosure and continues to have the highest rate in the nation, followed by Maryland, Delaware and Indiana. A total of 49,239 homes were scheduled for a foreclosure auction last month, down 3 percent from March and 21 percent from a year ago. It was the 41st straight month in which scheduled auctions were down on a year-on-year basis.

Click here to read more on this story.

Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.