Banks Increase Home Seizure Rate For The First Time In Two Years As They Manage Flow Of Foreclosures Without Disrupting Housing Market Recovery

The five largest lenders agreed to a settlement of the charges of $25 billion and have looked to alternative methods such as short sales to better manage the resolution of distressed properties resulting from the 2008 financial crisis.
Bank-owned homes initially provided a drag on the housing market with a glut of foreclosures.
Then states began enacting laws that made it more difficult to file initial default notices and to make the flow of foreclosures more predictable.
Home seizures rose in 29 states in November and repossessions declined in 21 states. Florida had the highest rate of foreclosures, up 3% from the previous month and up 20% from one year ago.


This Website Is For Financial Professionals Only

Why Join Advisors4Advisors from Advisors4Advisors