Blogging About Loans: October 2008

An office of elite mortgage lending professionals with a common interest and goal focused on providing customer service that exceeds expectation. Thereby building our business from repeat and referral opportunities. Ruth Vogt. LMB 100023827. NMLS 257576. Regulated by the Division of Real Estate. Fairway Independent Mortgage is an Equal Housing Opportunity.

Halloween Is Going to Suck This Year!

....... 

  Foreclosure stats according to MBA:    

  2nd qtr 2008 1st qtr 2008 2nd qtr 2007
Delinquency Rate 6.41 6.35 5.12
In Foreclosure Process 2.75 2.47 1.4
Foreclosure Action 1.08 1.01 0.59
Foreclosure Starts by Loan Type:      
Fixed Rate Loans 0.34 0.29  
ARM Loans 1.82 1.56  
Subprime Fixed 2.07 1.8  
Subprime ARMS 6.63 6.32  
FHA 0.95 0.96  
VA 0.57 0.51    

  Foreclosures in California and Florida increased (accounting for 39% of the total foreclosures started in the second quarter), offsetting the improvements in Texas, Massachusetts and Maryland.  

There were 8 states that exceeded the national average: Nevada, Florida, California, Arizona, Michigan, Rhode Island, Indiana, and Ohio.  

So, have we hit the bottom? Who knows? Just buy extra candy for the kiddies this year to make up for the vacant homes, if any, in your local market!

For the full story, click here: MBA


Opinions expressed here are the sole responsibility of the author, and do not necessarily reflect the view of Fairway Independent Mortgage.

Ruth Vogt Colorado Mortgage Lender Ruth Vogt, Sales Manager

 #LMB100023827, NMLSR# 257576

 Equal Housing Opportunity. 

 Regulated by the Division of Real Estate.

   www.ColoradoHomeLender.com

   ruthv@fairwaymc.com  303-881-7849.

 

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Comment balloon 1 commentRuth Vogt • October 03 2008 06:53PM
Halloween Is Going to Suck This Year!
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… Foreclosure stats according to MBA: 2nd qtr 2008 1st qtr 2008 2nd qtr 2007 Delinquency Rate 6. 41 6. 35 5. 12 … more