Ruth Ann on Real Estate

@RealtorRuthAnnView Housing TrendsFollow MeView My Profile
(713) 882-4655

Client Experience Rating    4.97/5.0       Based on 177 Surveys   View Rating Detail
I'm never too busy for your referrals!
PRINCE PROPERTIES, LLC
        EMAIL ME        907 S. Friendswood Dr #216, Friendswood, TX 77546     Phone: (281) 482-5888     Fax: (866) 271-3628
Foreclosures Reach 3-Year Lows -- How's that for Interesting News?
MAY
16
Foreclosures Fall Again, Reaching 3-Year Lows
Fewer home owners are losing their homes as the number of foreclosure filings sank to more than a three-year low in April, RealtyTrac reports.


The number of foreclosure filings in April dropped 34 percent from a year ago, also marking the seventh straight month of declines, and reaching its lowest level since December 2007. Foreclosure filings include notices of default, scheduled auctions, and bank repossessions. Also, 69,532 homes were repossessed in Aprilan 8.6 percent drop from March and a 32 percent drop from last September’s peak.

Banks being blamed for faulty paperwork continued to slow the pace of foreclosure activity last month, but many foreclosures still loom, experts warn. About 3.7 million borrowers are at least 90 days late on payments.

However, there are hopeful signs of a turnaround: The employment picture is improving, which will allow more home owners to make payments and banks are completing more loan modifications to keep borrowers in their home. Banks completed 77,000 mortgage modifications in March, which is a 26 percent increase from February.

States With the Highest Foreclosure Rates
Nevada, Arizona, and California continue to post the highest foreclosure rates in the nation.

Ten states account for more than 70 percent of all foreclosure activity in the country: California, Florida, Arizona, Michigan, Nevada, Illinois, Texas, Georgia, Ohio, and Colorado.

Source: “Foreclosures Down 7th Straight Month,”CNNMoney (May 12, 2011) and “Faulty Paperwork Slows Foreclosure Activity, Survey Shows,”Reuters (May 12, 2011)


FEATURED LISTINGS
 
 
 
ARCHIVE
Zip code
Location


TOOLS
View subdivision price trends for the past 13 years, and create comparative subdivision analysis reports online.
View a list of my sold listings.
Search for information on Houston and Texas schools based on the county, district, campus and/or zip code.
Golf Course Finder allows you to search for Houston golf courses and to view properties on or near a golf course.
Search for Houston area highrises and see their comprehensive list of features and amenities.
Includes residential home sales statistics for residential properties and new homes listed by REALTORS®
Online resource center for affordable housing information
Information source for mortgage info, lenders, refinancing and more!
Providing links to valuable Real Estate news and Information.
Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®
Copyright© 2014, HOUSTON REALTORS® INFORMATION SERVICE, INC. All Rights Reserved.