U.S. homes are entering the foreclosure process at a slower pace than a year ago, and fewer properties are being repossessed by lenders, new data show.
The number of foreclosed properties sold is declining nationally and in Wisconsin, showing signs that the housing market is stabilizing.
Banks are increasingly placing homes with unpaid mortgages on a countdown that could deliver a swell of new foreclosed properties onto the market by early next year, potentially weighing further on home values.
Homes in some stage of the foreclosure process saw their share of overall U.S. sales grow in the first quarter despite falling sales of those owned by banks.
More U.S. homes are entering the foreclosure process, setting the stage for a surge in properties repossessed by lenders this year.
Foreclosure activity surged last month across about half of the nation's states, as banks tackled a backlog of homes with mortgages that had gone unpaid yet remained in limbo due to delays stemming from foreclosure-abuse claims.
Bank-owned homes and short sales last year accounted for the smallest slice of overall sales in three years but still made up nearly a quarter of all U.S. homes sold in 2011.
About 1.9 million homes entered the foreclosure process in 2011, the lowest level since 2007 when the recession began, according to a report Thursday by the foreclosure listing firm RealtyTrac Inc.
Fewer U.S. homes entered the foreclosure process or were taken back by banks in November, reflecting a seasonal pullback in foreclosure activity by lenders and mortgage servicers.
By ?ALEX VEIGA AP Real Estate Writer LOS ANGELES (AP) — More U.S. homes entered the foreclosure process in October than in the previous month, with Florida, Pennsylvania and Indiana […]
By ALEX VEIGA AP Real Estate Writer LOS ANGELES (AP) — Fewer U.S. homes entered the foreclosure process or were seized by lenders in July, the latest sign banks are […]
By Derek Kravitz Associated Press Washington — More people bought new homes in March, giving the battered industry a small lift after the worst winter for sales in almost a […]
- Milwaukee Mayor’s $1.9B budget proposal has infrastructure boost
- As employers face labor shortages, Biden administration rolls out playbook for training workers
- Wisconsin Senate committee votes against confirmation for four DNR policy board appointees
- October proclaimed Architecture Awareness Month in Wisconsin
- Pre-Bid Meetings – Week of October 2, 2023
- Corn mill owners plead to federal charges in fatal explosion, will pay $11.25 million
- BUILDING BLOCKS: Second phase of Lower Yahara River Trail construction
- Sky-high mortgage rates leave homes unaffordable for more buyers, sending new home sales tumbling
- Forecast: Economic challenges ahead as rates rise and labor shortages remain
- CBRE opens office on 18th floor of Milwaukee BMO Tower
- Former inmate able to rebuild life through work in construction trades
- Zignego to lead $60M I-894 improvement project
- First prefabricated bridge in US installed in Eau Claire County
- Illinois developer worked with Wisconsin contractor to build 258-unit Wauwatosa apartment complex
- VJS Construction raises the roof for Bruce Guadalupe Community School expansion project
- Microgrid pilot project will store energy for village affected by outages
- Dane County sees uptick in highway work zone crashes, on track to exceed last year
- The Hop streetcar will debut newest service route in fall with limited service
- FPC Live slims venue proposal to 1 downtown building
- Children’s Hospital urgent care center in Milwaukee gets first round of city approval
- With Sonag Construction shut down, feds move to block indicted owner from collecting leftover assets
- Four contractors selected to build border wall prototypes
- UW-Milwaukee’s Greenstreet shaping minds (and the city)
- Turning the Corner(s) (PHOTO SLIDESHOW)