An estimated 47 percent of bank-owned homes nationwide are still occupied by the previous owner who was foreclosed on.  Source:  RealtyTrac 

Only 380,000 new households were created over the past 12 months compared with an historic average of 1.1 million new households annually. Source:  U.S. Census Bureau

Of the 1.25 million homeowners whose trouble mortgages have been modified under the Treasury Department’s HAMP program, 27 percent have re-defaulted on their loans.  Source: Treasury Department Report

In that vein, Ragas’ report revealed rising prices for homes that have not been repaired since Katrina. The price of homes in fair and poor condition rose 40.6 percent to… Read More »