Foreclosures Stay Low While Forbearances Jump

Foreclosures Stay Low While Forbearances Jump

Forbearances rose for the first time since 2022 last month but foreclosures remain few and far between. The Mortgage Bankers Association recently reported that the total number of loans in forbearance increased to 0.23% as of June 30. This puts approximately 115,000 homeowners in forbearance plans. Government loans in particular saw weakness in the performance…

Can Better Financial Education Help Prevent Foreclosures?
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Can Better Financial Education Help Prevent Foreclosures?

By KIMBERLEY HAAS Foreclosure starts are up nationally and some industry leaders say that better financial literacy could help prevent homeowners from becoming distressed. Lenders started the foreclosure process on 22,575 properties last month. That’s up 11% from a year ago, according to the February 2024 U.S. Foreclosure Market Report by ATTOM. There were a total…

Woman To Woman: Female Leaders Offer Advice To Others
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Woman To Woman: Female Leaders Offer Advice To Others

By KIMBERLEY HAAS Female mortgage professionals are breaking barriers and making strides. As Women’s History Month is celebrated this March, The Mortgage Note asked leaders in the industry and related fields to share their advice with others. Here’s what they said: Be kind. “Always be kind. This is a small pond. You never know who you…

Foreclosures Up, Trending Back To Pre-Pandemic Levels
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Foreclosures Up, Trending Back To Pre-Pandemic Levels

By ERIN FLYNN JAY Foreclosure numbers are up by double-digit numbers and industry leaders say they will continue to rise this year. Earlier this month, ATTOM, a curator of land, property, and real estate data, released its Year-End 2023 U.S. Foreclosure Market Report, which shows foreclosure filings — default notices, scheduled auctions, and bank repossessions —…

Delinquencies Rise But Loss Mitigation Efforts Prevent Foreclosure
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Delinquencies Rise But Loss Mitigation Efforts Prevent Foreclosure

By KIMBERLEY HAAS Distressed homeowners who get behind on their mortgage bills are avoiding foreclosure. The Mortgage Bankers Association’s National Delinquency Survey was released last week and it showed that delinquencies increased in the third quarter to a rate of 3.62%, up 25 basis points from the second quarter and 17 basis points from a…

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