ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL – 05/21/2012

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL – 05/21/2012

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

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Foreclosure activity nationwide continued to fall in April, though foreclosure-related filings in the 26 states where courts handle the process jumped, according to a report from foreclosure data aggregator RealtyTrac.

One in every 698 U.S. housing units, or a total of 188,780 properties, were subject to a foreclosure-related filing in April, such as a default notice, scheduled auction or bank repossession. That’s down 5 percent from March and 14 percent from April 2011, and the lowest monthly total since July 2007, RealtyTrac said.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

Foreclosure-related filings were up 15 percent from a year ago in 26 judicial foreclosure states where courts handle filings. In the 24 nonjudicial foreclosure states and Washington, D.C., filings were down 29 percent from a year ago.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

The nation’s five biggest mortgage servicers — Ally Financial, Bank of America, Chase, Citigroup and Wells Fargo — have had a much higher ratio of pre-foreclosure sales to sales of bank-owned homes (REOs) in recent months, RealtyTrac said. The five are averaging less than 1.5 REOs for every pre-foreclosure sale, compared with more than 2.5 REO sales for every pre-foreclosure sale among other lenders and servicers, the report said.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

On the heels of the government’s $25 billion settlement with the big five servicers over so-called “robo-signing” practices, some industry observers predicted a rise in short sales because the settlement allows loan servicers to receive credit when they approve sales that include forgiveness of a portion of underwater homeowners’ debt.

Overall foreclosure starts — properties receiving their first foreclosure filing, either a default notice or scheduled auction, depending on the state — declined 2 percent year over year in April to 97,665. The number of properties repossessed by lenders fell on a yearly basis for the 18th straight month in April. REOs fell by 26 percent last month to 51,415.

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