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IPFS News Link • Housing

The Foreclosure Crisis Remains Awful

02-11-2011 • BusinessInsider.com/

Now, while this may seem like positive news, it's actually just a sign that lenders have way too much on their hands already. From RealtyTrac's CEO James J. Saccacio: Unfortunately this is less a sign of a robust housing recovery and more a sign that lenders have become bogged down in reviewing procedures, resubmitting paperwork and formulating legal arguments related to accusations of improper foreclosure processing. So, not so good. What's worse? The big three foreclosure titans continue to look depressing. California - 1 in every 200 housing properties received a foreclosure filing in January Arizona - 1 in every 175 housing properties received a foreclosure filing in January Nevada - 1 in every 93 housing properties received a foreclosure filing in January

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Reported By Jack Gregson

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