Foreclosures On The Rise Again...

[paulitician]

The New American Dream: Renting.


After a year-long reprieve from rising foreclosures, the numbers are going up again.

One in every 624 U.S. households received a foreclosure filing in January, up 3 percent from the previous month, according to a new report from RealtyTrac. Foreclosure activity froze in many states in 2011, due to processing delays after fraud, or so-called "Robo-signing," were uncovered in the fall of 2010. The thaw is now on.

"We expect the pattern of increasing foreclosures to continue in the coming months, especially given the finalized mortgage and foreclosure settlement reached in early February between 49 state attorneys general and five of the nation's largest lenders," said RealtyTrac's CEO Brandon Moore in a written release. "Foreclosure activity increased on a year-over-year basis for the first time in more than 12 months in Florida, Illinois, Indiana and Pennsylvania, following a pattern we saw in late 2011 in states such as California, Arizona and Massachusetts."

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[g5000]

Yes, the backlog is tremendous and now that the massive robo-signing fraud has been swept under the rug, the foreclosure machine can go back into full swing.

There is also a mini-spike of mortgage resets coming up in a few months.

So the fun times for deep sea home mortgages are far from over.

 

[RDD_1210]

Obamas fault I'm sure.

 

[Jarhead]

Obamas fault I'm sure.

he be a very very bad man
a very bad man

 

[RDD_1210]

Obamas fault I'm sure.

he be a very very bad man
a very bad man

Ron Paul would have had home values at quadruple their value by now.

 

[paulitician]

Obamas fault I'm sure.

he be a very very bad man
a very bad man

Yes blame BOOOSH, but never ever blame your Dear Leader. You Obama-Bots be craaazy.

 

[g5000]

Obamas fault I'm sure.

No. The sub-prime bubble began well before Obama.

 

[saveliberty]

It certainly didn't help when the bailout rewarded banks for making bad loans with cash. Then it encouraged home owners to walk away. Now all of us get to deal with decreased home values.

 

[Robert_Stephens]

The numbers are rising again here NM, and the case for renting is in the local press quite a bit now also. I'm running into some of my Jeep people who are bailing and looking for rentals. Bad deal in the longer view, I think.

Robert

 

[B. Kidd]

It certainly didn't help when the bailout rewarded banks for making bad loans with cash. Then it encouraged home owners to walk away. Now all of us get to deal with decreased home values.

And for four years and still counting (maybe for 4 years more on top of that!).

 

[saveliberty]

The local problem would be huge, except the county is hunting down the home owners and getting them to sign tax extensions. This allows them another year to live in their homes, at least as far as taxes are concerned. I'm looking to buy a house around the corner, if it becomes available cheap enough. Rental market is strong, so might as well invest where it helps my home's value and offers the best return on investment.