A Spike in Foreclosures is likely coming

Union environment minister prakash javadekar earlier on Monday said the Delhi-NCR region was likely to have a better pre-winter period. announcing a slew of measures aimed at pre-empting a spike in.

U.S. home foreclosures fell in June after jumping to a 30-month peak in May, but default rates will escalate as a horde of mortgages resets at higher loan rates, real estate data firm RealtyTrac.

The accountancy firm warned that current headwinds looked set to get worse in coming months and could herald the start.

January’s spike in foreclosure starts is likely attributed more to seasonality than any type of pattern that may be forming, according to Black Knight’s SVP of loan data products, Trey Barnes. As the number of foreclosures spikes back, a new report is saying that as many as 30% of foreclosed houses are seriously damaged.

Whether or not we see a continued spike in the rate of foreclosures, there do not appear to be any factors in the underlying economic fundamentals (home prices, demand, unemployment) that suggest we will be seeing a significant decrease in the rate any time soon.

Five percent of Florida borrowers still owe more on their mortgages than their homes are worth, and an additional 5 percent have very little equity in their homes. It’s too early to predict what these homeowners will do if their home is now damaged and underwater, but at least a marginal spike in foreclosures is likely.

If you know you’re going to lose your house in foreclosure, and you also plan on filing for bankruptcy, should you file for bankruptcy before or after foreclosure? Sometimes you have no choice. But if you do, you will most likely benefit more if you file for bankruptcy before your house is.

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According to the report, foreclosures are likely to increase in coming quarters based on these numbers. And it wasn’t just Manhattan: each borough saw a significant spike, with Brooklyn coming in at 43%, Staten Island coming in at 43% and the Bronx coming in at 41%. Manhattan and Queens were both at 17%.

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 · Foreclosure starts hit an 18-year low in August, according to new data from Black Knight. There were 36,200 foreclosure starts in August – the lowest.