Is the Foreclosure Nightmare Near the End?
February 25, 2010
The number of bad loans in the foreclosure process increased to a new high in the last quarter of ’09 and with many many more loans seriously behind the foreclosures will continue. Some good news however, the percentage of delinquent loans eased from the third quarter of ’09 to the fourth which is sign that we may be awakened from the nightmare before we slip into a coma. It was good news and a shock because that is a time the delinquencies would normally run high as borrowers struggle to pay heating bills, Christmas debt etc. Inman news stats that the drop is significant because the “30 day delinquencies have historically been a leading indicator of serious delinquencies and foreclosures”. Let’s hope that maybe there is some good news to look forward to because we obviously have a long way to go with nearly 2.26 million loans delinquent 90 days or more. Read more http://www.inman.com/news/2010/02/19/light-end-foreclosure-tunnel
Contact Chuck Stanley, chuckstanley@sbcglobal.net or 530-318-8830.
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