Repeat Foreclosures Now Account for More Than Half of Total

By Jann Swanson

Posted To: MND NewsWire

Black Knight Financial Service’s current Mortgage Monitor Report takes an in-depth look at home affordability and foreclosure metrics, both based on January 2015 data. The company says that foreclosure starts, both first time and repeat, reached 12 month highs during the month while home affordability, despite two years of price increases, remains better than before the housing bubble. The Monitor reports that continued low interest rates have helped to offset price increases and that nationally the mortgage-to-income ratio stands at 21 percent. In the 2000-2002 period, before prices began to skyrocket, the average ratio was 26 percent. Still, the current ratio is up from October 2012 when it bottomed out at 17.6 percent. The ratio peaked in July 2006 at 34.7 percent. The high mortgage-to-income…(read more)

Via:: Repeat Foreclosures Now Account for More Than Half of Total