Real Estate Marketing & Beyond
According to an article in economic populist.org, Mortgage Monitor figures from Black Knight Financial Services show there were 595,235 home mortgages in the foreclosure process at the end of April. This equates to 1.17% of all mortgages.
The figure is down from 630,766 at the end of March, which equated to 1.25% of all loans. Compared to April last year, the figure has dropped substantially as the percentage of loans in foreclosure was 1.63%. These figures are for homeowners who have had at least a foreclosure notice served but who haven’t yet had their homes seized. The figures for April are at the lowest percentage since the summer of 2007.
The number of new foreclosure starts dropped to 58,728 in April compared to 72,762 in March. The figures for April last year were 70,400. This is the lowest number of foreclosure starts since April 2005 which was before the financial crisis began.
The data also showed that 2,145,589 mortgages had at least one payment overdue but were not in foreclosure at the end of April. This is 4.24% of all mortgage loans and is up from 4.08% in March, but is down from 4.72% from April last year. Out of those who had fallen behind with their mortgage, 730,179 homeowners were more than 90 days behind on their payments but were not in foreclosure at the end of the month. This is slightly down on the figure for March which was 732,765 mortgages considered to be seriously delinquent. When the number of delinquent mortgages is combined with those in foreclosure, a total of 2,740,824 mortgage loans were either in foreclosure or were late paying at the end of April. This is 5.41% of homeowners with a mortgage, and 2.62% of all homeowners were seriously delinquent or were already in foreclosure at the end of the month.
There is a seasonal pattern as to when people begin to fall behind with their mortgage repayments. It tends to coincide with the holiday shopping season and the seasonal low for serious defaults seems to occur in March. Foreclosures usually begin to hit their seasonal low in April. Although the latest figures were the lowest since April 2005, the numbers of new foreclosure starts are actually the lowest on record, going back to at least 2000.
Astonishingly, the average homeowner who is in foreclosure will have been so for around three years. With this year’s new foreclosures all being less than 120 days old, foreclosures that were started early on in the crisis have not yet been completed.
This article is so far from the truth. One simply needs to access their counties land records or take a walk to the local courthouse to SEE THE TRUTH. Fannie Mae in cahoots with Bank of America FKA Countrywide....passed onto Green Tree NKA Ditech (criminals MO is to change their names when their crimes come to light)...hand in hand with their not so trusty substitute trustee attorneys (ie Samuel I White firm ..one of MANY)...continue to perpetuate FRAUD and theft of homes by submitting FORGED owners signatures on DOTs and then stamped with a phony endorsement...and then the fabricated evidence is turned over to the courts and used to foreclose on thousands upon thousands of families and homeowners who have been nothing but lied to and criminalized by the banksters from the start. Its the TRUTH but these entities care nothing for the TRUTH, instead care only for their worthless debt dollars and will do anything, including committing felonies and fraud upon the courts , to get it. Racketeering, mail fraud, forgery ...just another day, another dollar. The state regulators do nothing, the federal govt does nothing, except cuts deals w/the criminal bankers who never follow through on their end. The crimes are ALLOWED to continue, the homes have been paid for several times over in the biggest ponzi scheme the world has ever seen...and still the greedy banks want the home and therefore fabricate the evidence to foreclose, how truly pathetic and disgusting. One day, these greedy lowlifes will meet their Creator and will have to answer to Him. Until that time, enjoy your money god.