Team Thayer Property Servicing

A monthly report that covers bankruptcy, foreclosure, consumer confidence, and other data was released Thursday revealing that foreclosures are increasing—and bankruptcies could be close behind. LegalShield , a provider of legal safeguards and identity theft solutions, released its LegalShield Law Index that uses five indices: the LegalShield Consumer Financial Stress Index, Bankruptcy Index, Housing Activity Index, Foreclosure Index, and Real Estate Index. The indices rely on LegalShield’s unique and proprietary database of member demand for and usage of legal services as well as a close tracking of the Consumer Confidence Index by The Conference Board, Housing Starts report by the Census Bureau, and Foreclosure Starts by the MBA. In its Foreclosure Index, foreclosures worsened, which is reflected in a 5.1 point rise to 63.8 in August, even though foreclosures remain down nearly 5 percent year-over-year. LegalShield said if debts such as student loan, credit card, and auto incre

The Federation of Certified REO Experts (FORCE) met Tuesday at the annual FORCE Rally within the 2017  Five Star Conference and Expo . Ed Delgado, Five Star President and CEO, spoke to the state of the industry, which he says is headed toward a microbubble. “The market is about to change and we need to be ready,” said Delgado. “REO is going to increase in 2018 as we see more fractures in the market—how much is determined by location and how big the fall off in price points will be.” According to Delgado, the real estate market is white hot while demand is still strong. These factors are driving price points, appreciation, and values way up. However, 5 to 10 percent spikes in appreciation along with price points that are overvalued by 15 to 20 percent aren’t a new observation—it’s something he witnessed in 2007 and 2008. “This is what we think will happen in the next year: Regional or microbubbles will start to burst—pay attention to Denver, Dallas, San Antonio, Las Vegas, Pho

News On Underwater Homes In 2017 Negative equity dropped over the first quarter, with the total value of underwater mortgages declining by more than $283 billion since the start of the year, according to the  CoreLogic  Q1 2017 Equity Insights Report released on Thursday. The national aggregate value fell 0.9 percent over the quarter and 7.1 percent since Q1 2016. In total, the number of underwater residential mortgages dropped 3 percent since Q4 2016 and 24 percent over the year. Still, about 3.1 million residential mortgages—or 6.1 percent of all U.S. mortgages—remain underwater as of Q1, according to the report. At their peak in 2009, underwater mortgages accounted for a 26 percent share of all mortgages. Subsequently, positive equity is on the rise across the country. According to the report, about 9 million borrowers have regained equity since 2017, and 91,000 regained equity in 2017 alone. About 63 percent of all homeowners have seen an increase in equity since Q1 2016,