Skip to content

Repeat Foreclosures Triple Since Crisis

March 10, 2015

3/9/2015

Source …..

foreclosure

As delinquencies rise to worrisome levels in the now $1 trillion market for auto loans and as the two biggest players in the consumer loan space prepare to merge into a multi-billion dollar ABS machine, January data on foreclosures suggests there may be trouble in the real estate world as well.

According to Black Knight Financial, both new and repeat foreclosures hit a 12-month high during the first month of the year with repeats (i.e. the borrower was rescued but has since entered the foreclosure process again) jumping 11% M/M. More troubling is the trend in repeat foreclosures which accounted for only 15% of total foreclosures during the crisis but now make up a startling 51%.

Trouble in HAMP-land anyone?

Foreclosures

No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: