Skip to main content

Freddie Mac Announces Extensions of State Foreclosure Timelines in Oregon Team Thayer Real Estate News

freddiemac Team ThayerFreddie Mac has announced that as part of the periodic review, state foreclosure timelines have been extended in 34 of 55 jurisdictions including Oregon  for all foreclosure sales completed on or after Aug 1, 2015.
The temporary suspension of state foreclosure timeline compensatory fee assessments in the District of Columbia, New York (including New York City), and New Jersey has been extended from June 30, 2015, to December 31, 2015, according to Freddie Mac.
The Enterprise originally announced the temporary suspension in the Single-Family Seller/Servicer Guide Bulletin 2014-19. The temporary suspension and the extended foreclosure timelines recently announced will be discussed in Freddie Mac's October 2015 Guide Bulletin.
Freddie Mac extended state foreclosure timelines as follows as part of the periodic review. The length of time is measured in calendar days, and the number of days here refers to the maximum number of allowable days between the due date and the last paid installment:
480 days:
  • Oregon (600 to 1,080)
30 days:
  • Alaska (450 to 480)
  • Arizona (330 to 360)
  • California (510 to 540)
  • Georgia (330 to 360)
  • Idaho (540 to 570)
  • Louisiana (510 to 540)
  • Michigan (300 to 330)
  • Oklahoma (570 to 600)
  • South Dakota (570 to 600)
  • Texas (390 to 420)
  • Wisconsin (510 to 540)
  • Wyoming (330 to 360)
60 days:
  • Arkansas (450 to 510)
  • Connecticut (750 to 810)
  • Illinois (630 to 690)
  • Kansas (420 to 480)
  • Kentucky (540 to 600)
  • Maryland (660 to 720)
  • Pennsylvania (750 to 810)
  • Tennessee (300 to 360)
  • Washington (660 to 720)
90 days:
  • New Hampshire (420 to 510)
  • Puerto Rico (720 to 810)
  • Vermont (810 to 900)
  • West Virginia (300 to 390)
120 days:
  • Colorado (420 to 540)
  • Florida (810 to 930)
180 days
  • Delaware (780 to 960)
  • Rhode Island (660 to 840)
210 days:
  • Nevada (690 to 900)
  • New Mexico (720 to 930)
240 days:
  • Hawaii (840 to 1,080)
300 days:
  • Maine (690 to 990)

To view a complete table of Freddie Mac's revised foreclosure timelines, click here.
To view Fannie Mae's foreclosure timelines, click here.
Team Thayer www.teamthayer.com

Justin Lee Thayer is Lane counties expert in market analysis for real estate investors. Call Justin @ 541-543-7287
Labels:
Location: Oregon, USA

Popular posts from this blog

Grass Seed Video

Read more

Bankruptcy Filings Dip Even Lower! Team Thayer #realestate #housing #market #investor #News #oregon

Bankruptcy Filings Dip Lower Nationwide bankruptcy filings were 5 percent lower in October 2016 compared with a year earlier, falling even lower than last month’s reported decrease, according to October 2016 AACER bankruptcy data reported by Epiq Systems. Bankruptcy filings totaled 63,042 in October, which was an increase from September’s total of 64,614, and was approximately 2.4 percent higher than October 2015’s total of 63,042 (an increase of 1,572).  Year-to-date, there have been 656,125 bankruptcy filings nationwide for the past nine months of 2016 (about 65,613 per month), down from 2015’s year-to-date total through the end of October of 700,014 (about 70,001 per month). The average number of filings per day in October 2016 was 3,152 over 20 days, which is an increase from September’s daily average of 3,077 over 21 days. The extra filing day in September compared to October accounts for the slight increase in the number of filings in September; had October feature...
Read more

When Will Bank Foreclosurews ‘Normalize’? Team Thayer #realestate #investor #housing #market #news #oregon

With much of the talk surrounding the housing market centered on “normalization” or returning to its pre-crisis state, one metric which the market is watching is the distressed sales share—the share of REO and short sales that comprise total residential home sales. For February 2016, the distressed sales share declined by 2.9 percentage points over-the-year (and 0.4 percentage points over-the month) down to 11 percent, according to  data released by CoreLogic  on Thursday. At their peak in January 2009, distressed sales accounted for nearly one-third of all residential home sales (32.4 percent) but has been declining steadily since then. By comparison, the pre-crisis share of distressed sales was typically around 2 percent; CoreLogic estimates that if the current rate of year-over-year decline continues, the distressed sales share will reach the “normal” pre-crisis level in slightly more than two years. “Prior to the housing crash, the distressed share of total...
Read more