Helping make real estate dreams come true Tim Harris- Harris Real Estate University Good News: Fewer Americans are falling behind on their mortgage payments; in fact, the fewest in two years. Mortgages just one payment past due (30 days) fell to their lowest level since just before the recession began. Is it delays in paperwork from the so called “robo-signing” (faulty paperwork) foreclosure servicing scandal? No. It’s actual fundamentals in the economy and the mortgage market. Go figure. Bad News: The biggest issue going forward is not new delinquencies, but the huge pipeline of loans already in the foreclosure process. It stands at 4.63 percent, tying the survey’s record high. This is due to foreclosure paperwork issues that have stalled the process, especially in the key state of Florida, where nearly one quarter of all mortgages are either delinquent or in foreclosure. “With fewer loans exiting the foreclosure process through sales, the foreclosure inventory rate natural...
A quirky blog by a Real Estate Broker about Central MN Real Estate, about town happenings, real estate tips, life, short sales, Minnesota lake homes, Minnesota log homes, first time home buyers, Military Buyers, downsizing, upsizing and Minnesota lake cabins for sale.Waterfront property in the Brainerd Lakes area is for you!