stlouismortgage's posterous http://stlouismortgage.posterous.com Most recent posts at stlouismortgage's posterous posterous.com Thu, 30 Jun 2011 05:40:39 -0700 St Louis Mortgage Refinancing and Home Loan Mortgage: Shadow Inventory Pushes Foreclosures http://stlouismortgage.posterous.com/st-louis-mortgage-refinancing-and-home-loan-m-70599 http://stlouismortgage.posterous.com/st-louis-mortgage-refinancing-and-home-loan-m-70599

St Louis Mortgage and Real Estate News –

St Louis Finance and Mortgage Broker News: Shadow Inventory Will Push Foreclosures
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate

 Two reports from separate credit rating agencies are drawing the same conclusion and that is foreclosures will reach new heights in 2011, even after setting records in 2010 according to St Louis finance experts.

"DBRS expects foreclosure filings and completed foreclosures to reach record levels in 2011 as alternatives such as modifications for seriously delinquent borrowers

are exhausted," said Kathleen Tillwitz, an operational risk strategist at the rating agency.

She goes on to say: "Consequently, losses to residential mortgage-backed securities will likely increase as REO inventories are sold at deep discounts causing writedowns in transactions particularly in the areas of the subordinate tranches."

Standard & Poor's ratings currently estimates that the principal balance of distressed homes amounts to about $450 billion, representing nearly one-third of the nonagency RMBS market currently outstanding, according to the firm's fourth quarter 2010 report on foreclosure timelines.

S&P expects that it will take 49 months to clear the supply of distressed homes on the market in the U.S. which is an 11 percent increase over the previous quarter and a considerable 40 percent increase from the 4th quarter in 2009.

S&P reports that the volume of distressed residential mortgage properties that are not associated with Fannie Mae or Freddie Mac continues to fall, but at an ever-slowing pace.

The company estimates that the principal balance of these distressed homes amounts to about $450 billion, representing nearly one-third of the private RMBS market outstanding. And in some markets, clearing the shadow inventory will take a very long time.

"The shadow inventory in the New York MSA will take the longest to clear estimating 130 months as of the fourth-quarter in 2010. That is at least twice as long as it will take in any of the other top 20 MSAs and 2.7 times the average time to clear for the U.S. as a whole," the S&P report states.

The report concludes: "This is primarily due to very low liquidation rates in New York."

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Articles and News Sponsored by Liberty Lending Consultants

When applying for any type of St Louis mortgage or refinancing, call Liberty Lending Consultants, the recognized St Louis home loan and refinancing experts, at (314) 336-9111 and ask for Steve Swan or Doug Stahlschmidt.

Business Owners: Call us at (314) 334-0210 and retain us for one of the best commercial loan modification and principal loan reduction programs available. A principal reduction or loan modification can help if you are underwater with negative equity. As commercial lending and loan modification program consultants, Floyd Tapia and his lending and legal team can focus on bringing you innovative private lending solutions to meet all types of financing needs. We have access to the largest portfolio of private lending institutions and investor backed funding sources available. Let us turn your challenges into closings (or from being underwater equity wise) and help you get a St Louis commercial lending, mortgage or financing loan. Sponsored by: St Louis Mortgage, Lending and Refinancing 877-334-0210 Member of the Better Business Bureau Check back daily for more financial news.

We Are Now On Google Maps!

St Louis Mortgage: Scan the below code with your smartphone for more details on the best home mortgage, commercial lending and financing and the best principal reduction program available.

=============================================

ARE YOU UPSIDE DOWN ON YOUR HOME?
ARE YOU FACING FORECLOSURE?

What if you could substantially reduce your existing mortgage debt balance in as little as 90 days with one simple application or even get a reduced mortgage principal settlement due to common errors found in 85% of mortgages?

Principal Reduction Program: Watch These Shocking Mortgage Fraud Videos...

You can save your home or business and put a foreclosure stop on the process. A principal reduction or loan modification can also help if you are underwater with negative equity.

Take action now in order to save your home. Waiting will not help. It will only make your situation worse. This book shown below will take you step-by-step on how to properly fix your mortgage.

Visit our principal reduction and loan reduction website for your FREE loan audit and loan review today!

Before you hire an expensive attorney, do your due diligence first and educate yourself so that you make the right decision for you and your family.

============================================

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Wed, 29 Jun 2011 17:57:49 -0700 St Louis Mortgage Loan and Refinancing Loan: Market Bears 30 Percent Of Foreclosures http://stlouismortgage.posterous.com/st-louis-mortgage-loan-and-refinancing-loan-m http://stlouismortgage.posterous.com/st-louis-mortgage-loan-and-refinancing-loan-m

St Louis Mortgage and Real Estate News –

St Louis Finance and Principal Loan Reduction News: Only 30 Percent Of Foreclosures On The Housing Market
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate

RealtyTrac Senior Vice President Rick Sharga said major banks currently hold roughly 1 million REO, or homes repossessed through foreclosure, but only 30 percent have actually made it onto the market.

According to its year-end report, foreclosure filings reached a new high in 2010 and should climb even higher this year, possibly surpassing 4 million filings according to several St Louis mortgage brokers.

And that's not counting the more than 5 million delinquent loans that have yet to enter the

initial stages of the foreclosure process, Sharga said.

The major kink in the housing market's recovery, and for the macro economy overall, is the work left to be done on homes currently in the foreclosure process, those about to enter it and the amount of repossessed homes the banks must shed.

Striking a proper balance on how to mange this shadow inventory of foreclosures is vital for the banks to show a healthy balance sheet while not dumping too many distressed properties onto the market, further dragging down home prices and values.

A recent study from Morgan Stanley showed the shadow inventory, those properties facing imminent default, evolving from mostly sub-prime and Alt-A loans to containing more prime loans as elevated unemployment levels have pushed more homeowners behind on their mortgage.

Analysts said that some 8 million repossessions would need to be liquidated over the next five years before the market stabilizes.

Adding to the problem are recent issues the banks are having processing the paperwork.

In October 2010, the banks had to hold up foreclosures to refile affidavits signed improperly in many states, pushing more than 250,000 foreclosure cases into 2011.

Reports recently showed that the problem may have spread to the notices of default as well.

And in the 23 states where lenders must foreclose on a homeowner through the court system, backlogs of cases have formed month-long delays.

Sharga said a court clerk in Florida, one of the states with the longest traffic jams, told him between 500,000 and 600,000 cases are yet to be heard.

Sharga said he's encouraged by the uptick in demand for REO.

"We've seen more traffic on our site, and even more buyers raising their hand asking for help from a Realtor," he said.

Sharga continues: "This means they're getting serious about buying again." He also said that the most traffic comes from Southwestern states and Florida.

=============================================

Articles and News Sponsored by Liberty Lending Consultants

When applying for any type of St Louis mortgage or refinancing, call Liberty Lending Consultants, the recognized St Louis home loan and refinancing experts, at (314) 336-9111 and ask for Steve Swan or Doug Stahlschmidt.

Business Owners: Call us at (314) 334-0210 and retain us for one of the best commercial loan modification and principal loan reduction programs available. A principal reduction or loan modification can help if you are underwater with negative equity. As commercial lending and loan modification program consultants, Floyd Tapia and his lending and legal team can focus on bringing you innovative private lending solutions to meet all types of financing needs. We have access to the largest portfolio of private lending institutions and investor backed funding sources available. Let us turn your challenges into closings (or from being underwater equity wise) and help you get a St Louis commercial lending, mortgage or financing loan.

Sponsored by: St Louis Mortgage, Lending and Refinancing 877-334-0210 Member of the Better Business Bureau Check back daily for more financial news.

We Are Now On Google Maps!

St Louis Mortgage: Scan the below code with your smartphone for more details on the best home mortgage, commercial lending and financing and the best principal reduction program available.

=============================================

ARE YOU UPSIDE DOWN ON YOUR HOME?
ARE YOU FACING FORECLOSURE?

What if you could substantially reduce your existing mortgage debt balance in as little as 90 days with one simple application or even get a reduced mortgage principal settlement due to common errors found in 85% of mortgages?

Principal Reduction Program: Watch These Shocking Mortgage Fraud Videos...

You can save your home or business and put a foreclosure stop on the process. A principal reduction or loan modification can also help if you are underwater with negative equity.

Take action now in order to save your home. Waiting will not help. It will only make your situation worse. This book shown below will take you step-by-step on how to properly fix your mortgage.

Visit our principal reduction and loan reduction website for your FREE loan audit and loan review today!

Before you hire an expensive attorney, do your due diligence first and educate yourself so that you make the right decision for you and your family. ============================================

kimtag.com/stlouisbeauty

QR Code for stlouisbeauty at Kimtag

kimtag.com/stlouismortgage

QR Code for stlouismortgage at Kimtag

kimtag.com/stlmobilecoupons

 QR Code for stlmobilecoupons at Kimtag

kimtag.com/stlouismagic

QR Code for stlouismagic at Kimtag

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