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		<title>The latest foreclosure horror: The Zombie Title</title>
		<link>http://www.asreos.com/blog/the-latest-foreclosure-horror-the-zombie-title.php#utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=the-latest-foreclosure-horror-the-zombie-title</link>
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		<pubDate>Tue, 29 Jan 2013 17:13:41 +0000</pubDate>
		<dc:creator>admin</dc:creator>
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		<guid isPermaLink="false">http://www.asreos.com/?p=2333</guid>
		<description><![CDATA[Joseph Keller doesn&#8217;t expect he&#8217;ll live to see the end of 2013. He blames the house at 190 Avondale Avenue.
Five years ago, Keller, 10 months behind on his mortgage payments, received notice of a foreclosure judgment from JP Morgan Chase. In a few weeks, the bank said, his three-story house with gray vinyl siding in Columbus, Ohio, would be put up for auction at a sheriff&#8217;s sale.
The 58-year-old former social worker and his wife, Jennifer, packed up their home of 13 years and moved in with their daughter. Joseph thought he would never have anything to do with the house again. And for about a year, he didn&#8217;t.
Then it started to stalk him.
First, in 2010, the county sued Keller because the house, already picked clean by scavengers, was in a shambles, its hanging gutters and collapsed garage in violation of local housing code. Then the tax collector started sending Keller [...]]]></description>
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		<title>June 2012 RealtyTrac Figures Show Home Foreclosures Continue To Increase</title>
		<link>http://www.asreos.com/blog/june-2012-realtytrac-figures-show-home-foreclosures-continue-to-increase.php#utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=june-2012-realtytrac-figures-show-home-foreclosures-continue-to-increase</link>
		<comments>http://www.asreos.com/blog/june-2012-realtytrac-figures-show-home-foreclosures-continue-to-increase.php#comments</comments>
		<pubDate>Mon, 30 Jul 2012 17:04:44 +0000</pubDate>
		<dc:creator>admin</dc:creator>
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		<guid isPermaLink="false">http://www.asreos.com/?p=813</guid>
		<description><![CDATA[Many new foreclosed properties will be placed on the market by early 2013, because banks are reporting a large number of homes that have unpaid mortgages which will be moving into foreclosure.
RealtyTrac Inc. reported that the recently released June 2012 figures showed, that for the second month in a row, the number of homes in the United States which are moving into foreclosure has increased on a yearly basis.
These figures showed that there was a large spike in California for homes that were moving into foreclosure for the very first time.  These first time foreclosed upon homes, increased approximately 18%, over the June 2011 figures that were reported.
The increased homes that are going into first time foreclosure is happening just as banks are trying to make up for all the lost time from last year, where the mortgage and lending industry were dealing with allegations of processing foreclosures without proper [...]]]></description>
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		<title>REO Listings Update: 2010&#8242;s Record-Breaking Year</title>
		<link>http://www.asreos.com/articles/reo-listings-update-2010s-record-breaking-year.php#utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=reo-listings-update-2010s-record-breaking-year</link>
		<comments>http://www.asreos.com/articles/reo-listings-update-2010s-record-breaking-year.php#comments</comments>
		<pubDate>Thu, 27 Jan 2011 14:06:05 +0000</pubDate>
		<dc:creator>admin</dc:creator>
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		<description><![CDATA[The Final Foreclosure Numbers on Last Year 
As predicted by numerous housing experts, 2010 was another record-breaker in terms of numbers of foreclosures and bank REOs.   For the first time since foreclosure numbers began to be recorded, over a million homes were converted to REO properties, despite the slowdown in foreclosure activity in the final quarter of 2010, due to the discovery of invalid bank foreclosure processing.
Foreclosure filings, which include default notices, scheduled auctions and bank repossessions, hit 2.87 million U.S. homes in 2010, up 2 percent from 2009, or one out of every 45 homes in America.  “If not for the robo-signing controversy, which broke in early October, the total could have easily surpassed 3 million,” said James Saccacio, RealtyTrac CEO.
The five states that accounted for over half of all the foreclosure activity were California, Florida, Arizona, Illinois and Michigan.  Nevada, however, continued to have the country’s highest rate [...]]]></description>
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		<title>REO Listings: Why Are Lenders Denying Short Sales?</title>
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		<pubDate>Fri, 21 Jan 2011 18:59:11 +0000</pubDate>
		<dc:creator>admin</dc:creator>
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		<guid isPermaLink="false">http://www.asreos.com/?p=720</guid>
		<description><![CDATA[When a Foreclosure Solution Gets Short-Circuited 
In this time of record-breaking foreclosures, many Americans, battered by the recession, find themselves without many alternatives to losing their house.  One such alternative, the short sale, in which the homeowner is allowed to sell their home below the value of their mortgage, was one way that someone could get “out from under” a home loan they could no longer afford.
However, the biggest impediment to a successful short sale is often the lender who holds the mortgage.  Because there is no short sale process set in stone, the approval process is inconsistent, unpredictable and all-too-frequently blocked, even when it’s in the lender’s best interests.
In a recent article, “The Boston Globe” detailed the ordeal of Christopher and Linda Robbins, who were ecstatic that they had managed to find a buyer for their condominium which they could no longer afford.  That joy turned to sorrow and [...]]]></description>
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		<title>REO Listings: More Americans Interested In Buying REO Properties</title>
		<link>http://www.asreos.com/articles/reo-listings-more-americans-interested-in-buying-reo-properties.php#utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=reo-listings-more-americans-interested-in-buying-reo-properties</link>
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		<pubDate>Mon, 27 Dec 2010 14:00:34 +0000</pubDate>
		<dc:creator>admin</dc:creator>
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		<guid isPermaLink="false">http://www.asreos.com/?p=700</guid>
		<description><![CDATA[A New “Tidal Wave” of Foreclosures Predicted in Early 2011 
A new survey by RealtyTrac and Trulia, two online real estate powerhouses reveals that more and more Americans are realizing the benefits of buying REO properties.
49 percent of those surveyed said they were likely to consider purchasing a foreclosure, up from 45% last May.  Two-thirds of those expected to receive a discount of about 30% off the normal price of such a home – which is in line with the average 32% lower purchase price of a foreclosure currently on the market, according to RealtyTrac.
The survey, done in conjunction with Harris Interactive, one of the leading custom market research companies, was conducted in November of 2010.
The uptick demonstrates a growing acceptance of REO properties as a viable alternative by mainstream home buyers, which is good news for REO agents, brokers and other REO professionals.
Though there’s been a slowdown in foreclosures [...]]]></description>
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		<title>REO Listings: 2011 Foreclosure Forecast Predicts Two Million More REOs</title>
		<link>http://www.asreos.com/articles/reo-listings-2011-foreclosure-forecast-predicts-two-million-more-reos.php#utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=reo-listings-2011-foreclosure-forecast-predicts-two-million-more-reos</link>
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		<pubDate>Tue, 21 Dec 2010 16:50:22 +0000</pubDate>
		<dc:creator>admin</dc:creator>
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		<guid isPermaLink="false">http://www.asreos.com/?p=690</guid>
		<description><![CDATA[Federal Reserve Governor Reveals REO Projections to Congress 
As 2010 comes to a close, the Federal Reserve has revealed that it expects approximately 4.25 million more foreclosure filings in the next two years, with two million plus expected in 2011 as well as in 2012, similar to the record amount of foreclosures that occurred during this year.
Elizabeth Duke, the Reserve Governor, reported these projections to a congressional subcommittee in late November.  She also reported that about five million mortgages are currently 90 days past due or more.
The pace of both foreclosures and REO sales has slowed in the final quarter of 2010, due to uncertainty over lenders’ problematic processing of foreclosures.  REO buyers have been reluctant to invest in distressed properties until these legal troubles have been resolved.
“Financial institutions face a number of risks if inadequate controls result in faulty foreclosure documents or failure to follow legal procedures,” Duke said. [...]]]></description>
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		<title>REO Listings: REO Foreclosures Continue At Record Pace</title>
		<link>http://www.asreos.com/articles/reo-listings-reo-foreclosures-continue-at-record-pace.php#utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=reo-listings-reo-foreclosures-continue-at-record-pace</link>
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		<pubDate>Sat, 20 Nov 2010 18:42:30 +0000</pubDate>
		<dc:creator>admin</dc:creator>
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		<guid isPermaLink="false">http://www.asreos.com/?p=681</guid>
		<description><![CDATA[“Robo-Signing” Foreclosure Settlement Reportedly Near with All 50 States 
Despite investigations into lenders’ possible faulty processing of foreclosures, the number of REO repossessions broke new records in October of 2010, up by more than 20% year-to-year.
Experts expected the number of new REO repossessions to dip due to the ongoing questions about the banks’ supposed practice of “robo-signing” foreclosure papers.  Instead, they fell off only slightly from September’s numbers and still reached new heights from last October’s numbers.  Only a few thousand foreclosures ended up being delayed in October, with roughly 90,000 homes becoming REOs.  About the same number of foreclosures is expected in November.
&#8220;The controversy won&#8217;t cause as much of a drop-off in foreclosures as anyone anticipated,&#8221; commented Rick Sharga, senior vice president for RealtyTrac, regarding media reports regarding foreclosure processing. &#8220;It will almost be over before it started.&#8221;
With a reported settlement in the works between the Attorney Generals of [...]]]></description>
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		<title>REO Listings: Current REO Inventory Will Take 40 Months To Clear</title>
		<link>http://www.asreos.com/articles/reo-listings-current-reo-inventory-will-take-40-months-to-clear.php#utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=reo-listings-current-reo-inventory-will-take-40-months-to-clear</link>
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		<pubDate>Fri, 05 Nov 2010 13:32:46 +0000</pubDate>
		<dc:creator>admin</dc:creator>
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		<guid isPermaLink="false">http://www.asreos.com/?p=665</guid>
		<description><![CDATA[Huge Amount of REO Homes Still Held By Lenders; Foreclosure Actions Up Sharply in Other Cities Across America 
Fitch Ratings, a global credit rating agency, now estimates that the huge “shadow inventory” of REO properties still being held by lending institutions will take at least 40 months to process and sell.
With an estimated 7.5 million REO homes yet to be listed, it will take some time for major banks to liquidate these properties. Of all the family home loans JPMorgan Chase holds,  for example, one out of every thirteen are in foreclosure today for a total worth of $20 billion.  Currently, it takes roughly 18 months for an REO home to be processed and resold, from the date of the last mortgage payment.
These numbers all but guarantee that REO listings will continue to account for a huge chunk of all real estate sales for at least the next three to [...]]]></description>
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		<title>REO Listings: Foreclosures Account For Half of All Home Sales</title>
		<link>http://www.asreos.com/articles/reo-listings-foreclosures-account-for-half-of-all-home-sales.php#utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=reo-listings-foreclosures-account-for-half-of-all-home-sales</link>
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		<pubDate>Wed, 27 Oct 2010 20:56:04 +0000</pubDate>
		<dc:creator>admin</dc:creator>
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		<guid isPermaLink="false">http://www.asreos.com/?p=642</guid>
		<description><![CDATA[REO Homes and Distressed Housing Continue To Surge
More than 3000 real estate agents surveyed nationwide were asked what’s really going on with today’s housing market – and, according to them, distressed home sales, including REO properties, made up over 47% of the total market in September of this year, up from August.   Inside Mortgage Finance, together with Campbell Surveys, polled the agents, who also revealed that REO sales were up sharply month-to-month.
Those REO sales will continue to make up a large part of real estate activity as, despite recent controversies over how banks and mortgage lenders were handling foreclosures, a nationwide moratorium on them now seems out of the question.   On Wednesday, October 20th, Department of Housing and Urban Development Secretary Shaun Donovan said these foreclosure problems occurring at a few mortgage companies are not &#8220;systemic issues.&#8221;
&#8220;Where there have been mistakes made or errors, we will hold those entities, those [...]]]></description>
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		<title>REO Listings: Stopping Foreclosures Will Threaten Housing Recovery</title>
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		<pubDate>Tue, 26 Oct 2010 13:48:49 +0000</pubDate>
		<dc:creator>admin</dc:creator>
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		<description><![CDATA[Economic Experts Decry Push to Freeze Foreclosures; Inventory Still Huge
REO sales have become an increasingly important sector of the real estate market, especially in states that have been hardest hit by the housing crisis.  For example, foreclosure sales made up 56 percent of all home purchases in Nevada and 47 percent of them in Arizona this past August, while in Michigan, Rhode Island and Florida, they accounted for about a third of the share.
That’s why any attempt to slow down the foreclosure process could imperil the beginnings of a fragile housing recovery.
Some numbers in August pointed to the possible start of such a recovery; sales of previously-owned homes increased for the second month in a row.  Now, because of some paperwork irregularities by overwhelmed REO sellers and election-year posturing, some legislators have called for a halt to all foreclosures.
Economists and real estate experts are mostly in agreement on what the [...]]]></description>
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