The foreclosure situation is improving in 2012, albeit at a snail’s pace. The main reason is a renewed commitment from the government as well as the lenders to be more flexible and forgiving towards their delinquent debtors.
With the US economy reporting a slight upturn in its economic recovery, things on the housing front are also beginning to look more positive. In a recent study, CoreLogic reported that the number of foreclosed properties on the market dropped by 8.4% in 2011.
While the market has been hoping a revival in the economy would help revitalize the flagging housing market, in truth, a strong recovery could end up doing more harm than good. Read on for the details...
With reports on the Eurozone crisis continuing to look dismal, the news of an upturn in the US economy had no impact on stabilizing the prevailing mortgage rates. Home prices also continued to slide, with the only silver lining appearing in the form of mortgage refinancing applications increasing significantly at the end of 2011.
Feb 04, 2011
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