Share This

Newsvine - Putting a "Seed Newsvine" Link on Your Own Site

AddToAny.com/share_save

Share

Blog2010ray2

http://rl2socialnet.blogspot.com

North America

My Blog List

Saturday, 1 December 2012

The Foreclosure Crisis Isn't Over Just Yet - Forbes

The Foreclosure Crisis Isn't Over Just Yet - Forbes

1 comment:

RAYLOKE said...

The wave of foreclosures has been manifesting at these more local levels — even while national-level data reflects a recovery.

Since 2007, the foreclosure crisis, which has claimed nearly four million homes, has played out very differently across the U.S. After the robo-signing scandal of late 2010, lenders, flush with defaulted mortgage notes, delayed their processing of foreclosures, most notably in judicial states, where filings circulate through a court system. That delay created an artificial decrease in the rate: 830,000 homes were foreclosed upon in 2011, a 24% decrease from the year before, according to CoreLogic, a Santa Ana, Calif.-based data firm. With the advent of the $25 billion mortgage relief plan in February, real estate experts projected a notable pick-up in activity since lenders sitting on delayed filings would hopefully process them more quickly.