ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 08/11/2011

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 08/11/2011

The Free ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 07/27/2011 all inclusive list of the entire Birmingham MLS Has Now Been Published. GET YOUR LIST TODAY WHILE IT IS STILL FREE

http://bhammls.net/BAARReports/ListitLib/show_report.aspx?ID=7016290204

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Have an awesome week and keep tuned for up to the minute changes in the Birmingham AL Real Estate World.

Foreclosure starts rebounded in May and June after falling sharply in  April, but loan modifications continued to outpace foreclosure sales  during the second quarter, according to the latest report from loan servicers participating in  the “Hope Now” program.

The latest Hope Now report showed  foreclosure starts — which fell 25 percent from March to April, to just  over 160,000 — rebounding to 181,866 in May and 195,721 in June.  Foreclosure sales remained nearly constant at around 70,000 per month,  while loan servicers modified loans at the rate of about 80,000 per  month.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

In the first six months of the year, loan servicers  completed an estimated 558,125 loan modifications, down 42 percent from  the same period a year ago. Most loan modifications completed in the  first half of 2011 — 374,704 — were granted outside the Home  Affordable Modification Program (HAMP).

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

Meanwhile, Foreclosure filings dropped once again in July, hitting their lowest level since November 2007, as processing delays and foreclosure prevention measures enabled a larger number of delinquent borrowers to remain in their homes.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN YOUR AREA

Filings were down 4% compared to June and were 35% lower than July 2010, marking the tenth straight month of year-over-year declines, according to RealtyTrac, a leading online marketer of foreclosed properties.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

RealtyTrac reported that 212,764 U.S. homes received some kind of foreclosure filing — notice of default, notice of auction sale or completed foreclosure — during the month. Bank repossessions totaled 67,829, down 33.6% from the peak month of September, 2010 — when banks took back 102,134 homes.

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN YOUR AREA

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The steep foreclosure drop, according to RealtyTrac CEO James Saccacio,  was triggered by a foreclosure processing slowdown that was sparked by the “robo-signing” controversy last fall. As a result of the scandal, in which the banks were accused of mishandling paperwork and failing to follow proper protocols, banks are being much more careful and many filings have been delayed.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN YOUR AREA

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 08/11/2011

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