Foreclosure.com Founder, President and CEO, Brad Geisen addresses the growing foreclosure “crisis,” as well as the current and future condition of the national housing market. Mr. Geisen will shed light on the massive disparities among providers that track nationwide foreclosure figures.
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The Truth Behind National Foreclosure Numbers
1. The Truth Behind the Foreclosure Numbers
The Truth Behind
National Foreclosure
Numbers
With Brad Geisen
2. The Truth Behind the Foreclosure Numbers
Moderated by
Stephen Chip
3. The Truth Behind the Foreclosure Numbers
Brad Geisen
Foreclosure.com Founder, President and CEO
4. The Truth Behind the Foreclosure Numbers
Brad Geisen
Foreclosure.com Founder, President and CEO
• Successful real estate investor, broker,
developer and entrepreneur for 24+ years
6. The Truth Behind the Foreclosure Numbers
Today’s Agenda
• Explain data
7. The Truth Behind the Foreclosure Numbers
Today’s Agenda
• Explain data
• Foreclosure process
8. The Truth Behind the Foreclosure Numbers
Today’s Agenda
• Explain data
• Foreclosure process
• Foreclosure stats
9. The Truth Behind the Foreclosure Numbers
Today’s Agenda
• Explain data
• Foreclosure process
• Foreclosure stats
• What we see happening
10. The Truth Behind the Foreclosure Numbers
Today’s Agenda
• Explain data
• Foreclosure process
• Foreclosure stats
• What we see happening
• Credit Crisis or Credit Crunch?
16. The Truth Behind the Foreclosure Numbers
Foreclosure Process
1. Preforeclosure
(Notice of default, Lis Pendens - Sheriff/Trustee sale.)
17. The Truth Behind the Foreclosure Numbers
Foreclosure Process
1. Preforeclosure
(Notice of default, Lis Pendens - Sheriff/Trustee sale.)
2. Foreclosure
(Foreclosed and owned by lender, REO, Bank owned)
19. The Truth Behind the Foreclosure Numbers
Foreclosure Stats
Pre-foreclosures (Notice of default, Lis Pendens, Etc.)
20. The Truth Behind the Foreclosure Numbers
Foreclosure Stats
Pre-foreclosures (Notice of default, Lis Pendens, Etc.)
• New properties / monthly
21. The Truth Behind the Foreclosure Numbers
Foreclosure Stats
Pre-foreclosures (Notice of default, Lis Pendens, Etc.)
• New properties / monthly
• Total inventory / monthly
22. The Truth Behind the Foreclosure Numbers
Foreclosure Stats
Pre-foreclosures (Notice of default, Lis Pendens, Etc.)
• New properties / monthly
• Total inventory / monthly
Foreclosures (Foreclosed and owned by lender, REO)
23. The Truth Behind the Foreclosure Numbers
Foreclosure Stats
Pre-foreclosures (Notice of default, Lis Pendens, Etc.)
• New properties / monthly
• Total inventory / monthly
Foreclosures (Foreclosed and owned by lender, REO)
• New properties / monthly
24. The Truth Behind the Foreclosure Numbers
Foreclosure Stats
Pre-foreclosures (Notice of default, Lis Pendens, Etc.)
• New properties / monthly
• Total inventory / monthly
Foreclosures (Foreclosed and owned by lender, REO)
• New properties / monthly
• Total inventory / monthly
25. The Truth Behind the Foreclosure Numbers
Source: Foreclosure.com
26. The Truth Behind the Foreclosure Numbers
Source: Foreclosure.com
27. The Truth Behind the Foreclosure Numbers
Source: Foreclosure.com
28. The Truth Behind the Foreclosure Numbers
Source: Foreclosure.com
29. The Truth Behind the Foreclosure Numbers
Source: Foreclosure.com
30. The Truth Behind the Foreclosure Numbers
Source: Foreclosure.com
31. The Truth Behind the Foreclosure Numbers
Source: Foreclosure.com
32. The Truth Behind the Foreclosure Numbers
Source: Foreclosure.com
33. The Truth Behind the Foreclosure Numbers
Source: Foreclosure.com
34. The Truth Behind the Foreclosure Numbers
Source: Foreclosure.com
35. The Truth Behind the Foreclosure Numbers
MBA (Mortgage Bankers Association)
March 6, 2008
36. The Truth Behind the Foreclosure Numbers
MBA (Mortgage Bankers Association)
March 6, 2008
• Currently 2.04% of all loans are in foreclosure process
(Not every property in foreclosure goes through the entire process)
37. The Truth Behind the Foreclosure Numbers
MBA (Mortgage Bankers Association)
March 6, 2008
• Currently 2.04% of all loans are in foreclosure process
(Not every property in foreclosure goes through the entire process)
• Currently less than 2% of all loans will be foreclosed
38. The Truth Behind the Foreclosure Numbers
MBA (Mortgage Bankers Association)
March 6, 2008
• Currently 2.04% of all loans are in foreclosure process
(Not every property in foreclosure goes through the entire process)
• Currently less than 2% of all loans will be foreclosed
• Banks estimate a 2% default rate (Industry standard)
39. The Truth Behind the Foreclosure Numbers
MBA (Mortgage Bankers Association)
March 6, 2008
• Currently 2.04% of all loans are in foreclosure process
(Not every property in foreclosure goes through the entire process)
• Currently less than 2% of all loans will be foreclosed
• Banks estimate a 2% default rate (Industry standard)
• Banks use 5% default rate as a reserve
40. The Truth Behind the Foreclosure Numbers
MBA (Mortgage Bankers Association)
March 6, 2008
• Currently 2.04% of all loans are in foreclosure process
(Not every property in foreclosure goes through the entire process)
• Currently less than 2% of all loans will be foreclosed
• Banks estimate a 2% default rate (Industry standard)
• Banks use 5% default rate as a reserve
• In 2007 the default rate was less than 1%
51. The Truth Behind the Foreclosure Numbers
Subprime problems
• Foreign investment in sub-prime paper
52. The Truth Behind the Foreclosure Numbers
Subprime problems
• Foreign investment in sub-prime paper
• Banks had 10 years of profits
53. The Truth Behind the Foreclosure Numbers
Subprime problems
• Foreign investment in sub-prime paper
• Banks had 10 years of profits
• Term Security Lending Facility (TSLF)
54. The Truth Behind the Foreclosure Numbers
Subprime problems
• Foreign investment in sub-prime paper
• Banks had 10 years of profits
• Term Security Lending Facility (TSLF)
• Loss mitigation / Short sales / Loan workouts
55. The Truth Behind the Foreclosure Numbers
CREDIT CRISIS or
CREDIT CRUNCH?
56. The Truth Behind the Foreclosure Numbers
CREDIT CRISIS or
CREDIT CRUNCH?
• Buy today at yesterday’s prices
57. The Truth Behind the Foreclosure Numbers
CREDIT CRISIS or
CREDIT CRUNCH?
• Buy today at yesterday’s prices
• Money is cheap
58. The Truth Behind the Foreclosure Numbers
CREDIT CRISIS or
CREDIT CRUNCH?
• Buy today at yesterday’s prices
• Money is cheap
• Good economy
59. The Truth Behind the Foreclosure Numbers
CREDIT CRISIS or
CREDIT CRUNCH?
• Buy today at yesterday’s prices
• Money is cheap
• Good economy
• Elections are coming