Wednesday, May 12, 2010

Foreclosure crisis may be easing: Do you think?

Please retweet this blogpost if you find it helpful in learning about government mortgage homeownership and bank loan modifications

Our motion to the court to vacate judgment fell on deaf ears. So on to bigger badder legal maneuvers.. OH JOY!

Meanwhile our media and government wants me to believe that things are getting better. If that is so why aren't the banks helping homeowners and riding out the wave to economic recovery? Below is intro to news report. I am not sure what to make of the numbers and have a friend in real estate checking things out. Make sure to click over and read the article in full. I find it hard to stomach that 20% help in modifications is in any way acceptable help for homeowners.

Published: Wednesday, May 12, 2010 10:07 p.m. MDT

WASHINGTON — Millions of Americans are still likely to lose their homes in the coming years, but the foreclosure crisis is finally showing signs of subsiding.

The number of households facing foreclosure in April fell 2 percent from a year ago, the first annual decline in five years, RealtyTrac Inc. said Thursday.

But the data aren't all sunny. While the number of new delinquencies is dropping, the number of borrowers losing their homes is still rising. Banks seized a record 92,000 homes last month.

And there are millions more potential foreclosures ahead. Nearly 7.4 million borrowers, or 12 percent of all households with >>>>KEEP READING

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