Mortgage Delinquency: “Signs of Emerging Stress in Some States”

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post Mortgage Delinquency: “Signs of Emerging Stress in Some States” Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago CoreLogic found that as of June 2019, the foreclosure inventory rate fell 0.1 percentage points from June 2018 to 0.4%—tied with the past seven months as the lowest for any month since January 1999.Overall, the national share of mortgages that were in some stage of delinquency was 4% in June 2019—a 0.3 percentage point decline, compared to last year’s 4.3%. The share of mortgages that are delinquent more than 90 days fell from 1.2% to 0.9%, and the percentage of mortgages that were more than 120 days delinquent dropped to 1% from 1.4% in June 2018. “A strong economy and eight-plus years of home price growth have made mortgage foreclosure an infrequent event,” said Frank Nothaft, Chief Economist at CoreLogic. “This backdrop will help the mortgage market limit delinquencies in most of the country whenever a downturn should start.”1Mortgages delinquent between 30 and 59 days rose marginally from 2% last year to 2.1% in 2019. Of the metros studied, the New York-Newark-New Jersey metro had the highest serious delinquency rate of 2.6%. The metro also had the highest overall foreclosure rate at 1.3%.The next highest was Miami-Fort Lauderdale-West Palm Beach, Florida, at 2%. Denver-Aurora-Lakewood, Colorado, and San Francisco-Oakland-Hayward, California, had the lowest serious delinquency rate at 0.4%. According to PropertyShark, Manhattan foreclosure cases were up 118% year-over-year during Q3 2019, while Staten Island Island cases increased by 183%. Despite the large spike in Manhattan, the number of properties foreclosed only risen from 22 to 48 compared to the same period year. Meanwhile, foreclosure activity in the Bronx dropped by 51%, while Queens saw a 10% dip in unique cases year-over-year.Of the 48 cases this quarter in Manhattan, 25 of foreclosures were mortgage foreclosures. Only once in the past cycle has Manhattan had more foreclosures than in Q3 2019, and that was in Q4 2016. Additionally, pre-foreclosures increased 13% year-over-year in the borough.CoreLogic revealed the following states to seen an increase in delinquent activity: Vermont (0.7%); New Hampshire (0.3%); Nebraska (0.2%); and Minnesota (0.2%). Michigan, Iowa, Wisconsin, and Connecticut all posted marginal gains of 0.1%.  November 12, 2019 4,052 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. The Best Markets For Residential Property Investors 2 days ago About Author: Mike Albanese in Daily Dose, Featured, Foreclosure, News Home / Daily Dose / Mortgage Delinquency: “Signs of Emerging Stress in Some States” Share Savecenter_img Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Tagged with: Foreclosure Housing Market 2019 Serious Delinquent Mortgages The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Related Articles Foreclosure Housing Market 2019 Serious Delinquent Mortgages 2019-11-12 Mike Albanese Previous: Freddie Mac VP Discusses Communication in Servicing Next: Fannie Mae Closes 14th Reperforming Loan Sale Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Everybody Invited to Compete in 47th Annual Ocean City Surf Fishing Tourney on Saturday

first_imgTournament Chairman Kieth Van Laarhoven points out the stretch of beach where the 47th annual Ocean City Fishing Club Surf Fishing Tournament will take place on Oct. 18 in Ocean City, NJ.The Ocean City Fishing Club (OCFC) is extending a broad invitation for anglers to participate in its 47th annual Invitational Surf Fishing Tournament on Saturday, Oct. 18.“This is an opportunity for anyone interested in fishing to come out and have fun competing in our tournament,” said Tournament Chairman Kieth Van Laarhoven, of Ocean City and Browns Mills. “This event is open not only to members of the fishing clubs throughout our area but also to individuals and families.”Fishing will take place along a swath of beach from 15th Street south, with 200 feet separating each position. On the day of the tournament, registration will be held from 5:30 am to 7 am at the Ocean City Intermediate School, 18th Street and Bay Avenue. The first fishing session will be from 7 am to 9:30 am, followed by a half-hour break and a second fishing session from 10 am to 12:30 pm.At the end of the second session, participants will return to the Intermediate School for a free lunch, door prizes, and presentation of awards to the winning teams and individuals. The fee is $60 for teams of up to six members. Individuals can sign up for $15 per person. The tournament, under the aegis of the Association of Surf Angling Clubs, is co-sponsored each year by the Ocean City Department of Recreation.The Ocean City Fishing Club is celebrating its 101st year as the oldest, continuously operating fishing club in America. For more information about the Oct. 18th surf fishing tournament, contact Kieth Van Laarhoven at (609) 893-5916 or [email protected]— By George Ingram for the Ocean City Fishing Clublast_img read more