Debt Relief, Foreclosures, Timothy Kingcade Posts

Foreclosure Inventory Hits “Pre-Crisis” Level

According to CoreLogic, 21,000 U.S. home foreclosures were completed in the month of December.  This number is equal to the average number of monthly foreclosures for the first time since the housing market crashed in 2007.

The five states with the highest number of completed foreclosures in the past 12 months were Florida (45,000), Michigan (30,000), Texas (24,000), Ohio (21,000) and California (19,000). The five with the fewest foreclosures in the prior 12 months through December were North Dakota (182), District of Columbia (254), West Virginia (312), Montana (630) and Alaska (668).

Of the 10 largest U.S. metro areas, the foreclosure inventory was highest in the New York area, at 2.5%. The Miami metro area’s foreclosure inventory totaled 2.0%, with the Las Vegas metro and Chicago each at 1.1%. The lowest totals were posted in the San Francisco (0.1%) area and in Denver (0.2%).

Foreclosure and delinquency trends continue to move in the right direction, a result of increasing employment levels, stricter underwriting standards and higher home prices over the past few years, according to CoreLogic’s CEO Anand Nallathambi.  Further declines in foreclosure and delinquency rates are expected in 2017.

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.

 

Bankruptcy Law, Credit, Timothy Kingcade Posts

Distressed Real Estate Continues to Hold Down Miami-Dade’s Housing Market

According to a recent report from Core Logic, distressed real estate continues to put a damper on Miami-Dade’s housing market. New numbers show a nearly four-point spread between price gains in the overall housing market and price gains when distressed sales are eliminated. That is higher than the one-point spread nationwide and Broward’s spread of 1.5 percentage points.

In Miami-Dade, home prices increased 10.6 percent at the end of 2013 compared to the end of 2012. When leaving out sales of distressed properties (i.e. – sales by banks or homes in the foreclosure process) the gain would have been 14.5 percent, Core Logic said.

In Broward, the overall market saw prices rise 13.7 percent. Leaving out sales of distressed properties, the gains were 15.2 percent. Nationwide, it was an 11-percent gain for all property sales and a gain of 9.9 percent for non-distressed properties, according to Core Logic.

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.