The Hidden Benefit of the Foreclosure Backlog: No Mortgage Payments Some Florida homeowners who have lost their jobs or have otherwise fallen prey to the Great Recession are benefitting from the backlog. As lenders slow the rate at which they are filing foreclosures, many people have been able.
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U.S. lenders are notifying more delinquent homeowners they face foreclosure, a step toward clearing a backlog of properties and helping to accelerate a housing recovery. Initial notices of foreclosure.
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RealtyTrac Vice President Daren Blomquist says that although New Jersey has seen a 42 percent increase in foreclosures in the first quarter, a 12 percent decrease in March could be a sign of change.
A series of stories by NPR's Chris Arnold examines the impact of the foreclosure crisis on Americans struggling to keep their homes.
Hidden Backlog of Foreclosures The "Hidden Backlog" mentioned above (and highlighted in red) is within that pink area. One thing missing from the chart is pent-up demand from those who are not delinquent yet have a huge incentive to walk because of massive negative equity.
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foreclosure cases and to ensure incoming cases meet state time standards. Due to space and resource capacity issues in the trial courts and given the official forecast, which projects that foreclosure filings will not return to normal until FY 2016/17, it is not feasible to dispose of the current backlog of foreclosure cases in a single year.
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But that also means that there is a hidden backlog of home loans in default that could end up in foreclosure. Moody’s Economy.com estimates that lenders will foreclose on 1.89 million homes in 2009, up from 1.43 million last year.
CLEVELAND, Ohio — A few strokes of correction fluid. had warned in February 2008 of a growing backlog of appeals, but the warning was ignored. Sept. 23: A newspaper analysis reveals that the.
Hidden Backlog of Foreclosures Posted by Michael Shedlock at 3:42 AM Disclaimer: The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy.