Foreclosure activity decreased 14% in February as filings dropped to their lowest level since February 2008, according to RealtyTrac.
A House committee plans to write legislation next week ending the Obama administration's flagship effort for helping struggling homeowners avoid foreclosure and abolishing three other housing assistance programs.
The volume of foreclosure properties sold in 2010 decreased by 31% from 2009, a trend that experts say is predictable but potentially problematic.
Foreclosure filings increased 1% in January, an estimate that was well below expectations according to RealtyTrac. Still, the numbers don’t indicate an early recovery for the housing market.
Cities hardest hit in the foreclosure crisis experienced a decrease in foreclosure activity in 2010, but a vast majority of other metro areas weren’t as lucky.
Many homeowners continue to struggle with mortgage payments, but those who used local lenders are doing a bit better.
Foreclosure filings were at record numbers in 2010 but could have been much worse, had it not been for the robo-signing controversy that impacted the market in the fourth quarter.
The highest court in Massachusetts ruled against U.S. Bancorp and Wells Fargo & Co. Friday in a pivotal mortgage foreclosure case that could spark more turmoil in an already depressed housing market.
Experts say now’s the time to make a play on a foreclosed home. Arm yourself with these tips.
More troubled homeowners are dropping out of the Obama administration's main foreclosure-relief program.