Foreclosures Expected to Continue Stifling Effect on Homeowners

Discussion in 'Media' started by hvactec, Apr 8, 2012.

  1. hvactec
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    hvactec VIP Member

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    (TheNicheReport.com) –4/5/2012 — Mortgage lenders in the United States are stepping up the pace of foreclosures that were halted for about a year due to the investigation and lawsuit related to “robo-signing.” The brief respite enjoyed by the American housing market in the last few months is set to finish, even as the proverbial green shoots of home sales and price stabilization take place.

    Some foreclosures were halted even before the robo-signing investigation started a year ago. The inquiry was ordered by several attorney generals across many states, and it focused on the practices of five major lenders that signed legal foreclosure filings at a virtually automated pace. This questionable practice of signing documents and foregoing proper review by bank officers or corporate attorneys managed to put a stop to the hectic foreclosure machine that started back in 2008.

    Real estate analysts and housing activists now fear that 2012 will bring a lot of pain to homeowners who were able to hold on to their homes for a little longer.

    read more Foreclosures Expected to Continue Stifling Effect U.S. Housing Recovery | The Niche Report
     
  2. HenryBHough
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    HenryBHough Gold Member Supporting Member

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    In Obama's perfect world nobody will own houses.

    They'll be assigned houses to use so long as they vote the right way.
     
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  3. waltky
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    waltky Wise ol' monkey Supporting Member

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    Foreclosures starting to rise again...

    Foreclosures Up 7% in August: Is the Housing Crisis Really Over?
    Sep 11, 2014 — Six years later, the effects of the housing bust are still being felt. RealtyTrac reports foreclosure filings in August were up 7% from the previous month. While down 9% from a year ago, it is the smallest monthly year-over-year decline in the last 47 consecutive months. Filings include default notices, scheduled auctions and bank repossessions.
    See also:

    17% of Homeowners Are Underwater: The Housing Crisis Lingers On
    Sep 11, 2014 — Too many homeowners are still underwater, despite a dramatic recovery in real estate prices since the lows of the recession.
     

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