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Foreclosures Starts Drop 28 Percent from a Year Ago to 71-Month Low

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  • Stan Brody | | 15 Dec 2012, 09:27 AM Agree 0
    Numbers... data... meaningless numbers and data... FACT is, lenders are not cooperating in meaningful mortgage modifications that would keep people in their homes... they have instead
    opted for retribution through the short sale process which demands that, even should an investor
    purchase the home, the homeowner is barred from entering into a lease for the home... the homeowner, legally, must vacate the property. Today, we have some 20% of all SFR's sitting in negative equity... that works out to NOT the 11.8 million number we see in the press.... but instead over 18 million... This week the FED indicated that rates will remain low most likely into 2017!!! An ominous sign for any true housing recovery, which I have written will not occur much before 2022... IF we get lucky...
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