Foreclosure starts rise as moratoria in Texas and Florida end

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It is more common to buy a foreclosure directly from the bank in a bulk sale purchase. In bulk sales, the banks will package a bunch of properties into one transaction and sell them all at once to one entity. That is the best way to buy a foreclosure if you can afford it because the discounts are typically the steepest.

Foreclosure starts rise as moratoria in Texas and Florida end March’s increase in foreclosure starts was a direct result of the end of the moratorium for borrowers affected by Hurricanes Harvey and Irma, Black Knight said.

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Florida and Texas accounted for nearly half of the total national decline Loans in active foreclosure prior to the hurricanes – but put on hold after – are shifting back to that status as foreclosure moratoria become set to expire As a result, foreclosure starts spiked in January, jumping 40 percent from December’s

actually received a short-term boost from the moratoria. In any case, it was a record-setting year in terms of foreclosure activity. Just 649,000 foreclosure starts were initiated in 2017, which was the fewest of any year since 2000, with the lowest number of first-time starts on record.

According to Torres, IOLTA revenue in Texas had been projected to reach $28. when is this going to end, when are things going to start to turn up?" In Florida, for instance, the IOLTA program.

Foreclosure Starts Increase in 43 Percent of Local Markets in May, Including 153 percent jump in Houston. Foreclosure starts decreased nationwide in May, but 43 percent of local markets posted year-over-year increases in foreclosure starts, counter to the national trend, according to an ATTOM Data Solutions analysis of record-level foreclosure data.

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moratorium: A suspension of activity or an authorized period of delay or waiting. A moratorium is sometimes agreed upon by the interested parties, or it may be authorized or imposed by operation of law. The term also is used to denote a period of time during which the law authorizes a delay in payment of debts or performance of some other.

Let’s go back to two paragraphs I wrote last week: Texas has been home to 40% of all new jobs created since June 2009. In 2013, the city of Houston had more housing starts than all of. across the.

A sudden rise in interest rates could trigger defaults in markets where option ARMs are popular, hastening the speed and magnitude of recasts. About 60 percent of the loans were written in California,