homes http://michiganradio.org en Big jump in home foreclosure filings in Michigan last month http://michiganradio.org/post/big-jump-home-foreclosure-filings-michigan-last-month <p>&nbsp;August saw a big leap in the number of new home foreclosure filings in Michigan.&nbsp;&nbsp;&nbsp;</p><p>2011 was expected to be a record year for home foreclosures in Michigan, but it didn&rsquo;t happen.&nbsp;&nbsp;Foreclosure filings slowed at the beginning of the year, as banks scrambled to fix paperwork problems and respond to new government regulations.&nbsp; But it appears now the tide is turning.&nbsp;&nbsp;</p><p>New home foreclosure filings jumped 36 percent from July to August in Michigan.&nbsp;&nbsp;</p> Thu, 15 Sep 2011 09:01:01 +0000 Steve Carmody 4157 at http://michiganradio.org Big jump in home foreclosure filings in Michigan last month Home foreclosure filings down (and that's a problem?) http://michiganradio.org/post/home-foreclosure-filings-down-and-thats-problem <p>The number of home foreclosures tumbled in Michigan during the first half of the year. One analyst says that&rsquo;s bad news.&nbsp;&nbsp;</p><p><a href="http://www.realtytrac.com/mapsearch/?a=b&amp;statesel=mi&amp;accnt=137302">Realty Trac reports that home foreclosure filings dropped by about 20 percent during the first six months of 2011</a>. One in 74 homes in Michigan received a foreclosure notice between January and June.&nbsp;</p><p>Rick Sharga is with Realty Trac. He says continuing questions about problems with foreclosure paperwork has slowed down the number of properties being repossessed by banks. <a href="http://www.huffingtonpost.com/2011/07/11/foreclosure-fraud-investigation-questions_n_892661.html">Federal and state regulators are expected to announce a deal</a> soon clearing major lenders from intentional wrongdoing involving faulty paperwork that mistakenly evicted people current on their mortgages.&nbsp;</p><p>Sharga says the delay in foreclosure filings has&nbsp;slowed the recovery in <a href="http://www.detnews.com/article/20110711/BIZ/107110371/1001/BIZ0">Michigan&rsquo;s real estate market.&nbsp;</a></p><blockquote><p>&nbsp;&ldquo;What over 60% of buyers are looking for right now are bank owned properties or foreclosure properties.&nbsp;&nbsp; So it might be a little of a &lsquo;Catch-22&rsquo; here&hellip;where we need a higher inventory of these distressed properties to get the buyers off the sidelines.&rdquo;&nbsp;&nbsp;</p></blockquote><p>Sharga says it may take until 2015 to clear the huge backlog of homes in the foreclosure process which will continue to be a drag on the home sale market. Thu, 14 Jul 2011 05:01:01 +0000 Steve Carmody 3286 at http://michiganradio.org Home foreclosure filings down (and that's a problem?) Foreclosure rate falls in Michigan... for now http://michiganradio.org/post/foreclosure-rate-falls-michigan-now <p>Foreclosure filings in Michigan fell 20% between October and November, but most of the decline came in homes in the final stages of foreclosure according to data released by <a href="http://www.realtytrac.com/content/press-releases/foreclosure-activity-decreases-21-percent-in-november-6251">Realty Trac</a>, a group that calls itself "the nation's leading online foreclosure marketplace."</p><p>The pace of homes entering the system remained relatively unchanged.</p> Thu, 16 Dec 2010 18:04:19 +0000 Steve Carmody 619 at http://michiganradio.org Foreclosure rate falls in Michigan... for now