Many experts watching the residential real estate market likely breathed a sigh of relief when foreclosure filings in July 2023 were 9% lower than they were a month ago. In fact, ATTOM CEO Rob Barber hailed the news as a “sign of a rebounding housing market”. He noted that the recent rise in home prices is putting … Read more
Statistics from July 2023 show that foreclosure filings are down 9% from a month ago. What’s more, the number of new homes being foreclosed on is 12% lower than it was in June 2022. ATTOM CEO Rob Barber has hailed the significant decline as a sign of a rebounding housing market, pointing out that homeowners … Read more
The commercial real estate market has gotten a lot of press lately and for all the wrong reasons. Brookfield, one of the world’s largest public real estate companies, announced earlier this year that it would default on over $161 million worth of office building mortgages. Pacific Investment Co. subsequently announced that it would default on … Read more
Foreclosure rates have been rising since 2020. However, the current jump in foreclosure filings in the first quarter of 2023 is still alarming. A whopping 95,712 properties in the United States had foreclosure filings in the first three months of the year. What’s more, over 36,000 of these filings were from March 2023 alone, indicating … Read more
Property owners in Los Angeles are facing challenges on more than one front. The foreclosure rate rose in Q4 2022 while the FED has continued with the rate hikes it started last year. At the same time, LA office leasing activity is declining as tech companies flounder and other industries struggle to bring workers back … Read more
As the real estate market rapidly cools thanks in large part to the FED’s decisions to raise interest rates, many pundits are wondering if the industry will see a repeat of what took place in 2007 and 2008. Granted, there are a number of important similarities. Prices were through the roof back then, just as … Read more
In 2018, Nicholas and Sharon Honchariw took out a $5.6 million business purpose loan from FJM Private Mortgage Fund LLC; however, they defaulted on their September 2019 monthly payment. According to the terms of the loan, the default automatically entitled FJM to charge a one-time 10% fee along with a default interest charge of 9.99% … Read more
According to conservative estimates, private equity firms own one out of every twenty-six apartment listings in the United States, along with 1.6 million housing units, 275,000 manufactured home lots, and nearly 240,000 single-family rental homes. What’s more, it’s not uncommon for firms to take advantage of rising foreclosure rates and an overall dip in home … Read more
As inflation and rising interest rates increase foreclosure rates throughout the United States, it’s easy to lose sight of the fact that the housing market isn’t the same nationwide. Borrowers (and lenders) in some states are doing better than others, thanks to factors such as an increase in new jobs, migration patterns, low cost of … Read more
It’s no secret that foreclosure rates are rising in 2022. It’s unclear if the trend will continue in 2023; however, there is clear evidence that foreclosures could continue rising next year, leaving lenders in the difficult position of trying to sell homes in a buyer’s market. At the same time, if certain factors were to … Read more