FHA-Distressed Asset Stabilization Program established to deal with the flood of shadow inventory....
Secretary Shaun Donovan announced 707,000 severely distressed fha-mortgages have been processed to date. The highest number of foreclosures recorded . May 30, Core logic reported 64,000 new fha-mortgages were in foreclosure for the month of April. FHA disputes the April numbers.
20,000 Homes Being Sold to Investors
.... represents 3% of the HUD REO inventory In fact with this new report Real Estate Buyers can anticipate 59,000 fha-mortgaged back foreclosure hitting the market in the next the next 12 months. I am not clear when the flood gates open, but you want to stay connected to these indicators. 2012 Represents the lowest record of HUD REO Portfolio.
FHA REO Inventory Lowest Level Since 2009
...... stated, Acting FHA Commissioner Carol Galante “At the same time, the inventory of seriously delinquent loans is near an all time high. This provides further indication of the coming foreclosure dump, which I hope you are ready.
Private Investment Purchase Pools
.....will acquire through bulk pool sale at current market conditions, with the goal of bringing the loan out of default in three years. The investor/servicer must provide work out solutions with 50% of pool.
Start You Engines....
Seriously, now is a very good time to state implementing your real estate goals. It will be a fun and exciting game, stay connected to JustHud.