My Real Estate Blog

Available online at www.hud.gov/scorecard, the March Housing Scorecard features key data on the health of the housing market including:

• Home prices remain weak under continued strain from foreclosures and distressed home sales, according to CoreLogic data now available in the Housing Scorecard.
• Mortgage delinquencies continued a downward trend compared with early 2010 and foreclosure starts and completions remain below peak. However, as lenders review internal procedures related to foreclosure processing, many foreclosure actions have been delayed. The decline is likely to be temporary as lenders eventually revise and resubmit foreclosure paperwork in the coming months.
• Since April 2009, record-low mortgage rates have helped nearly 10 million homeowners to refinance, resulting in $18.1 billion in total borrower savings.
• More than 4.4 million modification arrangements were started between April 2009 and the end of February 2011 - including more than 1.5 million HAMP trial modification starts, more than 776,000 FHA loss mitigation and early delinquency interventions, and nearly 2.2 million proprietary modifications under HOPE Now.

Reprinted From C.A.R.