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To: tejek who wrote (851)	8/3/2012 11:44:28 AM
From: John Vosilla	Read Replies (1) \| Respond to of 2722

Foreclosure Filings Surge In South Florida Region In First Half Of 2012 Published on 7/5/2012 8:41:00 PM Lenders initiated more than 12,200 foreclosure actions in the tricounty South Florida region in the second quarter of 2012, representing a 70 percent surge in filings on a year-over-year basis compared to the same April through June period in 2011, according to a new report from CondoVultures.com. For the year, lenders have filed nearly 22,500 notices of default - the first step in the repossession process - in the first six months of 2012 in Miami-Dade, Broward, and Palm Beach counties after filing less than 14,000 actions during he same January through June period in 2011, according to the report based on the Condo Vultures® Foreclosure Database™. Despite the spike in South Florida foreclosure actions in the first half of this year, the 2012 total is about 60 percent of the number of filings initiated during the same six-month period in previous years when nearly 35,000 actions were filed in 2010 and more than 52,000 actions were filed in 2009, according to the report based on filings with the Clerks of the Court for each respective county. "Foreclosure filings spiked in South Florida in the first full quarter following the National Mortgage Settlement Agreement being reached in February 2012," said Peter Zalewski, a principal with the Greater Downtown Miami-based real estate consultancy Condo Vultures® LLC. "Lenders appear to be playing catch up for the unofficial 15-month moratorium that was voluntarily instituted by many large banks when news first surfaced of the 'robo-signer' controversy in the autumn of 2010. The agreement between the government and the largest mortgage servicers is meant to establish a transparent process for dealing with the foreclosure crisis in South Florida and the nation. "Going forward, it is unclear what impact the settlement agreement will have on new foreclosure filings in South Florida." Administrative irregularities in the repossession process first surfaced in late September 2010, creating a "foreclosure freeze" that prompted many lenders to slow the number of defaults being initiated against borrowers in South Florida between October and December 2010 compared to the same three-month period in 2009. The slowdown in the foreclosure filing process continued throughout 2011. In February 2012 after months of negotiations, the nation's five largest mortgage servicers cut a deal with the federal government and the attorneys general from 49 states to provide at least $25 billion in relief to borrowers. The settlement agreement incentivizes the mortgage services to consider various options – including principal reductions, mortgage modifications, and shortsales - before filing to foreclose on borrowers who owe more than their residences are worth currently, according to the agreement. condovultures.com

To: tejek who wrote (851)	8/3/2012 11:47:23 AM
From: John Vosilla	Read Replies (1) \| Respond to of 2722

RealtyTrac: New York State Q2 total foreclosures decrease; 2012 first half stronger than 2011 start Jul 17, 2012 In its U.S. Foreclosure Market Report for the second quarter of 2012, which reports default notices, scheduled auctions and bank repossessions, RealtyTrac Inc. reported New York State had 8,686 total foreclosure filings, a decrease of 8.21 percent from the 2011 first quarter and a decrease 2.55 percent from the previous quarter. With one in every 933 housing units receiving a foreclosure filing, New York State ranked number 42 of all 50 states. Foreclosure filings in New York during the first half of 2012 also decreased 3.51 percent compared to the first half of 2011, but increased 22.06 percent compared to the second half of 2011. 14,794 housing units in New York State received a foreclosure filing during the first half of the year. On a monthly basis, there were 2,682 total foreclosure filings in the month of June. A decrease from both June 2011 and May 2012. Nationally, foreclosure filings were reported on 558,310 U.S. properties during the 2012 second quarter, a decrease from both the 2011 second quarter as well as the 2012 first quarter. Likewise, foreclosure filings decreased during the month of June compared to the June 2011 total and the previous month. There were 1,045,801 properties with foreclosure filings in the United States during the first half of 2012, a decrease of more than 10 percent from the first half of 2011, but an increase of 1.52 percent compared to the second half of 2011. To read the entire RealtyTrac press release, click here.