December 6, 2011
As Mark Twain once observed, “There are lies, damned lies and statistics.” When it comes to quantifying the foreclosure trend in the U.S., there’s no doubt that statistics can serve as a convenient way to manipulate, control and even obscure the truth. As The Wall Street Journal recently reported, “…if you ask five researchers how many houses or mortgages we should worry about, you’ll probably get at least five completely different answers.” The fact is that some statistics include loans delinquent for 90 days or more, foreclosures and REO or bank-repossessed properties. Others don’t include the 30-day or 60-day delinquencies. And then there’s the whole question of “shadow inventory,” the elusive category of soon-to-enter-foreclosure properties from coast to coast. Shadow inventory refers to homes that could enter the market in the near future and includes distressed properties of unlisted foreclosed homes, unlisted bank-repossessed homes or any home whose primary borrowers are 90 days late on a mortgage payment.
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December 5, 2011
The foreclosure process may be intimidating but it isn’t hopeless. If you choose to fight your foreclosure proceedings, you increase the chances of remaining in your home.
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