Buying Ventura Real Estate: Mortgage delinquencies improving. – May. 19, 2011

by Gary and Lisa Schoeffler on May 19, 2011

in Latest News

NEW YORK (CNNMoney) — The mortgage delinquency picture is getting brighter, according to an industry report released Thursday, with falling delinquency rates indicating the housing crisis may be at the beginning of its end.

A quarterly release from the Mortgage Bankers Association revealed that mortgage payment problems eased during the first three months of 2011 for every category of default. The rate of loans past due, unadjusted for seasonal factors, decreased 1.17 percentage points to 7.79% from 8.96% during the last quarter of 2010. It was down 1.59 points year-over-year..

“These numbers point to a mortgage market on the mend,” said Jay Brinkmann, MBA’s chief economist. “Foreclosure starts are at the lowest level since the end of 2008 and had the second largest drop ever. The percentage of loans somewhere in foreclosure is down from last quarter’s record high and also had one of the largest drops we have ever seen.”

This is one of a couple positive signs that the real estate market is improving. More important than the condition of the whole real estate market, what is your specific situation? We find that circumstances often dictate when people buy and sell houses, regardless of market conditions. If you are in such a position, contact us today so we can help you with a plan that is right for you!

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Post by Gary and Lisa Schoeffler

Gary and Lisa Schoeffler are Ventura Real Estate Professionals specializing in residential real estate. Their expertise in helping both buyers and sellers is widely recognized in Ventura County. How can they assist you today? Wondering what the market is like? Call them, they will be happy to talk with you about it. 805-320-4472

Gary and Lisa has written 371 articles.

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