U.S. Residential Vacancies Decrease 9 Percent in Q3 2016 But Bank-Owned Vacancies Up 67 Percent From a Year Ago

Bank-foreclosure-report-bank-owned-sign-keyimage
 

U.S. Residential Vacancies Decrease 9 Percent in Q3 2016 But Bank-Owned Vacancies Up 67 Percent From a Year Ago

Vacant Homes in Foreclosure (Zombies) Down 9 Percent From Year Ago;
Increase in Vacant Bank-Owned (REO) Homes Corresponds to Overall REO Increase

ATTOM Data Solutions, the nation’s leading source for comprehensive housing data and the new parent company of RealtyTrac, released its Q3 2016 U.S. Residential Property Vacancy and Zombie Foreclosure Report, which shows nearly 1.4 million (1,361,188) U.S. residential properties (1 to 4 units) representing 1.6 percent of all residential properties were vacant as of the end of the third quarter. The number of vacant properties decreased 3 percent from the previous quarter and was down 9 percent from a year ago.

The report analyzes publicly recorded real estate data collected by ATTOM Data Solutions — including foreclosure status, equity, and owner-occupancy status — matched against monthly updated vacancy data from the U.S. Postal Service. Vacancy data is available at the address level for more than 85 million U.S. residential properties at http://marketinglists.realtytrac.com/.

The report shows that as of the end of the third quarter, 18,304 U.S. residential properties actively in the foreclosure process were vacant (zombie foreclosures), representing 4.7 percent of all residential properties in foreclosure. The number of zombie foreclosures decreased 5 percent from the previous quarter and decreased 9 percent from Q3 2015.

Meanwhile there were 46,604 vacant bank-owned (REO) residential properties as of the end of the third quarter, an increase of 7 percent from the previous quarter and up 67 percent from Q3 2015.

Click to read more

The Home Refinance Plan Banks Don’t Want California Homeowners Knowing

home-affordable-refinance-program
 

The Home Refinance Plan Banks Don’t Want California Homeowners Knowing

Before you pull money from your 401K, see how this brilliant refinancing program could get you the savings you need instead. If you live in California, then homeowners like yourself are rushing to FHA Rate Help’s official website, are shocked to find out they qualify for a program that has the banks beyond on edge.

There has never been a better time to refinance your home. That’s because of a little-known government program called the Home Affordable Refinance Plan® (HARP). This will allow Americans to refinance their homes at shockingly low rates and reduce their payments by an average of $3,300 a year.

But here’s the catch – like most government programs, this is likely temporary. Currently, the program is set to expire in 2016. But the good news is, once you’re in, you’re in. If the thought of a lower payment or fewer years on your mortgage sounds appealing, the time to act is right now.

Click to read more