On August, 16, 2018, FHA announced it is updating its foreclosure prevention option for borrowers in Puerto Rico and the U.S. Virgin Islands impacted by hurricanes Irma and Maria. This will give borrowers with delinquent FHA-insured mortgages easier access to bring their mortgages current without an increase in their interest rates or monthly payments. Foreclosure […]
The rain is still pouring down in Oahu, but Fannie Mae and Freddie Mac are ahead of the game. Both GSEs have already announced that their disaster relief programs are in effect for those impacted by Hurricane Lane. Foreclosure News
The first serious mortgage related impact from last fall's hurricanes started to hit home in July . Foreclosure starts rose 11 percent from June, with the greatest change 19 percent, in storm affected parts of Texas. Foreclosure News
The Federal Housing Administration is revising its foreclosure prevention options to assist struggling borrowers in Puerto Rico and the U.S. Virgin Islands impacted by last year's hurricanes. The new policy lets servicers evaluate borrowers for the Disaster Standalone Partial Claim before the disaster loan modification using their pre-disaster monthly principal and interest payment. Foreclosure News
The foreclosure machine that ground to a halt in Puerto Rico after the devastation caused by Hurricane Maria in September is slowly cranking up again. Island residents who fell behind on their payments are facing creditors ranging from Wall Street to the federal government. Foreclosure News
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Historically, mortgage delinquencies in the month of April have risen 85% of the time, but April 2018 bucked that trend as they fell, according to Black Knight. The total delinquency rate dropped 10.17% year-over-year in April and 1.6% from the previous month to 3.67%, its second lowest level in 12 years. Foreclosure News
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Foreclosure filings in South Florida jumped 23.6 percent in the first quarter of 2017 compared to the preceding quarter, according to Attom Data Solutions. Foreclosure News
As interest rates rise and refinancing declines, the impact is beginning to manifest in the loan prepayment rate . The single month mortality rate followed a 15 percent decline in January with another 9 percent loss in February. Foreclosure News