Diverting The Foreclosure Flood!

Watch The Video Bleow and Read The Included Article On Foreclosures!

Diverting the Foreclosure Flood

Forbes

"A survey Realtor.com recently conducted found that more than half of all Americans (55.7%) are concerned that backlogged foreclosures will lower home values in their markets.ii. Some lenders are moving to ease their inventories in some of the states ...Forbes

Millions of Americans, myself included, applauded when the nation’s five largest lenders and attorneys-general from 49 states reached a landmark $25 billion settlement last March. Among many things, this landmark agreement settled charges of foreclosure processing abuses dating back to 2008.

While the settlement was good news for distressed borrowers, the processing of foreclosures slowed dramatically during the 18 months of negotiations. The slowdown created a shadow inventory of more than 1.5 million shuttered homes ─ nearly twice the number of foreclosures sold last year and representative of about 39% of the 3.6 million+ foreclosures completed nationally since the start of the housing crisis in September 2006.ⁱ

If this wave of foreclosures is released into local markets without concern for their impact on home values, many of our local real estate markets could be threatened. Thus, the long-awaited recovery, so critical to restoring value and equity back to our real estate economy and American homeowners, could saddle several major markets with foreclosures for years. A survey Realtor.com recently conducted found that more than half of all Americans (55.7%) are concerned that backlogged foreclosures will lower home values in their markets."

http://www.forbes.com/sites/realtorcom/2012/07/26/diverting-the-foreclosure-flood/