When most people examine the current real estate market a few things become apparent. First and foremost, there has been a significant decline in home prices since 2006. Second, the foreclosure inventory is incredibly large. Finally, interest rates remain low.
Immediately you are likely to see the bigger picture in one of two ways…
Before a property is considered amongst the foreclosed listings, it undergoes a preforeclosure process This is the time when the status of the property changes from being owned to repossessed
It’s simply a failure of law. Barry Ritholtz wrote a admonishment of the Obama administration and state attorney generals for buying into the 50 state mortgage settlement pig in a poke:We never want to see an innocent party “accidentally” evicted from a home. The legal system has evolved so this has become a “legal impossibility…
