Welcome to the ViewAndSearch.com Blog

2012-02-09 09:59:45
Is the Foreclosure Crisis Finally Fading?

Daily Real Estate News | Thursday, February 09, 2012

Foreclosures decreased by 8.4 percent -- or 130,000 -- in 2011, according to research by CoreLogic. 

'The pace at which properties are entering foreclosure is slowing,' Mark Fleming, chief economist with CoreLogic, told CNNMoney. 'And servicers nationwide stepped up the rate at which they were able to process distressed assets.'

So why are foreclosures dropping? 

For one, lenders are being more cautious. Homes are entering the foreclosure process more slowly as lenders more carefully scrutinize paperwork before processing a foreclosure, after getting into big trouble for the mishandling of some foreclosures in recent years. 

Also, with stricter credit conditions nowadays, lenders are being more choosy in who they give loans too, reserving mortgages for mostly only low-risk borrowers who have less chance of default and foreclosure. 

Banks also are doing more loan modifications to prevent foreclosures. And when a home does land in foreclosure, banks are trying to process them faster or trying to encourage a short sale. 

Fleming also notes 'this is the first time in a year that REO sales [those of bank-owned properties] have outpaced completed foreclosures.' Case in point: There were 103 sales of bank-owned homes for every 100 homes in foreclosure inventory in December 2011. That’s compared to November 2010 when there were 94 REO sales for every 100 in the foreclosure process. 

Source: “Homes in Foreclosure Decline by 130,000,” CNNMoney (Feb. 8, 2012)

Provided by,

Doug Spiers / Principal Broker 

Elite Choice Real Estate

1436 South Legend Hills Drive Suite 311
Clearfield, Utah 84015

Direct (801) 726-7173

Email: DougSpiers@aol.com 


“The highest compliment I can receive is the referral of your friends, family and business associates. Thank you for your trust and confidence.”

Blog Archive
2017-10-13 11:57:01
4 Reasons to Sell This Fall

2016-05-06 07:23:41
Best Long-Term Investment

2016-02-02 16:49:28
No Matter Which Groundhog You Listen To...

2016-01-29 14:35:49
Existing Home Sales Bounce Back

2015-12-09 08:46:15
Real Estate News You Need to Know Wed. 12/9/15

2015-12-03 08:11:23
2016 Home Prices and Rates?

2015-10-16 10:43:16
2016 Home Prices?

2015-10-15 12:27:38
Rental Repairs?

2015-10-15 12:24:39

2015-10-13 07:15:49
New Home Sales Surge

2015-10-07 10:35:23
30-Year Fixed Mortgage Rates Fall to 5-Month Low;

2015-07-29 07:20:05
What you need to know today.

2015-07-22 13:45:39
Rates Today July 22,2015

2015-01-08 07:32:51
Mortgage Rates Hit 19-Month Low

2014-12-24 10:04:16
30-Year Fixed Mortgage Rate Up From 19-Month Low;

2014-09-02 18:21:41
30-Year Fixed Mortgage Rates Drop

2014-08-31 08:55:58
Housing Market Looking Up

2014-08-22 21:25:38
US housing recovery appears to be back on track

2014-07-08 08:16:44
4 in 10 US households use cellphones only

2014-06-30 12:51:26
Pending Home Sales Surge 6.1%

2014-04-29 18:07:58
Pending Home Sales 4/28/14

2013-11-14 12:56:43
30-year-mortgage rate rises to 4.35%

2013-11-13 07:58:25
Fewer Late On Mortgage Payments = Housing Strength

2013-05-02 15:12:13
Home prices along Utah's Wasatch Front

2013-04-12 15:14:02
Salt Lake housing market looks for spring rebound

Click here to see ALL articles.

Comment on this Article

Your Name:
Your Email:
Verify:  Please enter the numbers shown to help eliminate spam.