Team Thayer Property Servicing

The percentage of residential mortgage borrowers who are delinquent (more than 60 days behind on their mortgage payments) was reported at 2.95 percent in Q1, the first time it has been below 3 percent in more than seven years, according to TransUnion's Quarterly Industry Insights Report released Monday. Q1 marked the 13th consecutive quarterly decline in mortgage delinquency rate. Q1's percentage of 2.95 was a drop from 3.29 percent in Q4 2014 and from 3.59 percent in Q1 2014. Before Q1, the mortgage delinquency rate had not been below 3 percent since Q3 2007 (immediately prior to the beginning of the recession), when it was reported at 2.61 percent. Subprime consumers had a delinquency rate of 27.23 percent in Q1, a decline of 9 percent year-over-year; it was reported at 29.7 percent for Q1 2014. The delinquency rate for both subprime consumers and all consumers peaked in Q1 2010 at 40.5 percent and 6.9 percent, respectively. "It's taken more than seven years,...

Flipping houses looks glamorous and easy on TV. Many people are enticed to get into the business, lured by the promise of easy money and high volume. But what is really involved in flipping houses profitably? We took a look. What do you need to get started? You need an excellent credit score. You need cash, because you are usually investing in a high-risk property and need a bigger down payment, or you are buying outright, free and clear, at auction. Another option would be a  203(k) loan  but that’s a whole other article. You need to know the real estate market. Most importantly, you need to know houses. Just like a good car mechanic looking to spend the least on a fixer upper, you need to know just how deep the money pit goes. What you should look for in a house to flip: Location . Find a  home  in a desirable neighborhood, or in a city where people want to live. Sound Condition . You don’t want to start rebuilding it from scratch. Look for home t...