Delays push foreclosures to 40-month low in April

Foreclosure activity decreased by 9 percentage points to a 40-month low in April, according to new data released Thursday by Realty Trac, a firm that monitors the foreclosure market.

Hampered by internal bank and mortgage servicing company delays, foreclosure notices fell to a 40 month low in April, declining 9% from the prior month and 34% from a year ago. The slowdown represented the seventh straight month of delays in the foreclosure crisis as a result of the moratorium put in place in 26 states for the robo-signing mess.

Foreclosure cancellations in California climbed 40% in November, according to a monthly report from, which tracks foreclosures in California. Analysts adjusted the numbers to.

How to Buy Properties At The Foreclosure Auction EVEN If There's NO INVENTORY The report also shows one in every 593 U.S. housing units received a foreclosure filing during April 2011. "Foreclosure activity decreased on an annual basis for the seventh straight month in April, bringing foreclosure activity to a 40-month low," said James J. Saccacio, chief executive officer of RealtyTrac.

Bair: 3,500 Mortgages Modified at IndyMac Under FDIC Program unpaid mortgages left the lender short of cash, triggering a run on deposits that drained $1.3 billion in 11 days ending with the U.S. seizure on July 11. The bank was among 25 to collapse this year amid losses from mortgages. IndyMac’s failure will cost the FDIC’s deposit insurance fund about $8.9 billion, the agency has said.Florida foreclosures top the charts for seventh consecutive month The rate of foreclosure activity, on a national level, dropped in September, reaching the lowest number of properties with a foreclosure filing since July 2006: 106,866.The current rate of foreclosure activity reflects a 9 percent drop from August and a 19 percent decline from this time last year. Recent declines have marked the 48th consecutive month of year-over-year declines in the.

Foreclosure filings declined by another 9 percent last month, bringing foreclosure activity nationwide to a 40-month low as lender processing delays continue to back up the system, according to data f

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Wayne County has already opened the floodgates with a petition to foreclose on 62,000 Detroit properties by April 1- including an estimated 37,000 occupied homes. families struggling with job loss and low wages are now threatened with homelessness by a system.

Monday Morning Cup of Coffee: Fannie, Freddie investors speak out Monday Morning Cup of Coffee takes a look at news crossing HousingWire’s weekend. just to artificially push the ownership rate higher. “But giving out credit to those who didn’t have the.

Foreclosures reached a 40-month low in April, and the news is more negative than positive.. RealtyTrac said a delay in foreclosure. REPUBLICANS, DEMOCRATS, the media-they all agree: In his State of the Union speech Tuesday night, Barack Obama presented a populist economic program. wanted to confront the ongoing foreclosure.

"Tight supply conditions continue to be the primary catalyst for higher. The construction sector in the US has shed hundreds of thousands of jobs in response to massive foreclosures by homeowners.