Team Thayer Property Servicing

While both non-foreclosure mortgage solutions and completed foreclosures were down over the year in July, the ratio remained virtually the same—more than four solutions for every foreclosure sale, according to  data for July 2015  released by non-profit alliance  HOPE NOW . The mortgage industry reported about 122,000 non-foreclosure solutions (including short sales, deeds-in-lieu of foreclosure, and other workout plans) for July, while about 29,000 foreclosures were completed. These numbers compare with 157,000 and 39,500, respectively, for July 2014, according to HOPE NOW. "At the end of June, the mortgage industry hit significant milestones for loan solutions and proprietary loan mods—24 million and six million respectively," said Eric Selk, Executive Director of HOPE NOW. "Based on July’s data, it is clear that servicers continue to work with customers to offer the best options —whether they are permanent, short term or liquidation. In fact, looking at the ye...

Foreclosure volumes are near pre-crisis levels in many parts of the country seven years after the housing crisis, and the landscape is still constantly evolving. New and revised regulations coming from Capitol Hill are keeping mortgage lenders, servicers, and attorneys on their toes as far as compliance. How easy or difficult has it been to adjust? Team Thayer Housing news Eugene Oregon Participants in the Foreclosure Lab at the  2015 Five Star Conference and Expo  in Dallas on Thursday weighed in on this question and other topics such as the foreclosure statute of limitations and how to maintain a pipeline while the housing market is largely recovered and foreclosure inventory is way down from its levels of five and six years ago. "In our industry, there is only so much that we can control," said Daniel Chilton, managing attorney with Citi . "I believe that it's cyclical, and I believe that as defaults go back up, a key indicator will be as interest rate...

Mortgage Rates At All-Time Lows 2015 is another great year for housing in America. Home sales are on the rise, home supply is diminishing, and prices are skyrocketing in most places. To top it all off, mortgage rates are dropping like stones. What’s a person to do in a red-hot market like this? Aside from buying a home, you can start flipping like those guys on TV! 30-year mortgage rates are below 4% nationwide, their lowest levels of all-time. Many lenders now quote rates and APR in the 3s; with rates for  FHA  and  VA loans  beating rates for conventional loans. Lower mortgage rates mean lower monthly payments. Unfortunately, many  first-time homebuyers  are still under the impression that they must start out by putting 20% down. This simply is not true. Most mortgage programs today require little or no money down. No Need To Put Down 20% Buyers in today don’t need 20 percent down. Many believe they do. The reason buyers beli...

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