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Realistbear

U S Foreclosures 10 Times Higher Than Historical Average

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http://finance.yahoo.com/news/Homes-lost-to-foreclosure-on-apf-1853308236.html?x=0&sec=topStories&pos=main&asset=&ccode=

Homes lost to foreclosure on track for 1M in 2010
US homes lost to foreclosure on track to eclipse '09 levels as banks work through backlog
Alex Veiga, AP Real Estate Writer, On Thursday July 15, 2010, 12:17 am EDT
LOS ANGELES (AP) --
More than 1 million American households are likely to lose their homes to foreclosure this year,
as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans.
..../
By comparison, lenders have historically taken over about 100,000 homes a year, Sharga said.
The surge in home repossessions reflects the dynamic of a foreclosure crisis that has shown signs of leveling off in recent months, but remains a crippling drag on the housing market.
The pace at which new homes falling behind in payments and entering the foreclosure process has slowed as
banks continue to let delinquent borrowers stay longer
in their homes rather than adding to the glut of foreclosed properties on the market. At the same time, lenders have stepped up repossessions in an effort to clear out the backlog of distressed inventory on their books.

Any similarities with us? SI/IO/wild LTVs? Banks stalling repossessions but giving up on a turnaround?

It truly did begin in America but was it contained in America?

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http://finance.yahoo.com/news/Homes-lost-to-foreclosure-on-apf-1853308236.html?x=0&sec=topStories&pos=main&asset=&ccode=

Homes lost to foreclosure on track for 1M in 2010
US homes lost to foreclosure on track to eclipse '09 levels as banks work through backlog
Alex Veiga, AP Real Estate Writer, On Thursday July 15, 2010, 12:17 am EDT
LOS ANGELES (AP) --
More than 1 million American households are likely to lose their homes to foreclosure this year,
as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans.
..../
By comparison, lenders have historically taken over about 100,000 homes a year, Sharga said.
The surge in home repossessions reflects the dynamic of a foreclosure crisis that has shown signs of leveling off in recent months, but remains a crippling drag on the housing market.
The pace at which new homes falling behind in payments and entering the foreclosure process has slowed as
banks continue to let delinquent borrowers stay longer
in their homes rather than adding to the glut of foreclosed properties on the market. At the same time, lenders have stepped up repossessions in an effort to clear out the backlog of distressed inventory on their books.

Any similarities with us? SI/IO/wild LTVs? Banks stalling repossessions but giving up on a turnaround?

It truly did begin in America but was it contained in America?

I know for sure Brown changed policy whereby Banks allowed clients in arrears to hangs onto properties for much longer than specified time under normal circumstances,

that was pre election (came across couple of cases where mortgages were not paid for over 7/8 + months but houses were not repossesed!!!)

I don't know or heard of any changes since then,

anyone can enlighten us of change in policy as we haven't seen a rapid rise in repos

well not yet any way!

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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