New Foreclosures Hit a Record Low

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.

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Fed Study: Garnishing Wages Could Reduce Mortgage Defaults by 30%

A “Working Paper” documenting a study of mortgage default has determined that two possible options for reducing mortgage defaults would be to increase the required down payment to 15% or garnish the wages of defaulting borrowers. The study, written by Juan Carlos Hatchondo, Leonardo Martinez, and Juan M. Sánchez, looks at an aggregate of data

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