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Mortgage Reposession Businesses Starting To Gear Up For Boom

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For the past few years, business generally has been slow for the 10,000-odd members of Mr. Seabrease's profession, known among people in the industry as mortgage field services. Until recently, home prices were rising so fast in much of the U.S. that most people who fell behind on their payments could easily sell their homes for more than they owed the lender and thus avoid foreclosure. At the end of last year's third quarter, according to the Mortgage Bankers Association, just 0.97% of all home mortgages were in the process of foreclosure, in which the lender takes ownership after the borrower defaults on payments. That percentage was the lowest since 1996.
Now the people in this little-known trade hope that a cooler housing market will create more work. House prices have fallen modestly in some places, and inventories of unsold homes are rising.
Foreclosures have increased in recent months in much of the U.S.
, according to RealtyTrac Inc., a foreclosure data publisher in Irvine, Calif.

Yet another sign of the *** :)

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Looks like they know its curtains for the refi market, hoe reversion loans haven;t done too well here, probably why the lenders are pumping the hell out of BTL again, boy is it going to hurt when it all finally dries up there will be NOWHERE for their market to go.

Some good posts on this site on interest rates and general bond stuff too.


The next new market is reverse mtgs. for us mtg guys....if you can stand it.... Scorpio wass up?

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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