It’s no secret that the industry seems like it’s imploding. The Federal Reserve’s interest rate increases are creating havoc. Including “owners’ equivalent rent” in a lagging CPI Index is non-sensical. No one pays themselves rent when they’re already typically paying a mortgage payment. My guess is they will keep raising rates until the entire economy is paused because most won’t be able to afford the essentials, also known as food, shelter & clothing (add gasoline & utilities, too!)
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Completed Foreclosures Drop 40% – Lowest Level Since August 2007
Completed foreclosures decreased 40% in December, according to the December 2016 National Foreclosure Report released by CoreLogic, a property information, analytics and data-enabled solutions provider.
Completed foreclosure dropped from 36,000 in December 2015 to 21,000 in December 2016. And foreclosure inventory also dropped significantly by 30% annually, according to the report.
http://www.housingwire.com/articles/39211-completed-foreclosures-drop-40-in-december
Foreclosures Update
Let’s keep an eye on this trend between now & early 2017. There are some big changes on the horizon. Housing inventory is very low & lenders are working with borrowers to avoid foreclosures.
http://www.housingwire.com/articles/38474-corelogic-completed-foreclosures-reverse-trend-increase
Florida attorney general fights alleged foreclosure fraud firm | 2016-08-18 | HousingWire
A group of non-lawyers allegedly scammed homeowners out of their money under the guise of several different law firms. After 37 complaints, they are being investigated, with a court order filed against them.
Source: Florida attorney general fights alleged foreclosure fraud firm | 2016-08-18 | HousingWire
You need to know who you are dealing with when you are investing or selling to investors. Impersonation of lawyers!