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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
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