Foreclosures down for third straight month asÂ lenders
manage backlogâ€“Housing WireÂ 9/16/2010
â€œForeclosure filings in August fell 5% from a year ago, the
thirdÂ straight month of declines.â€
Seizures Reach Record for Third Time inÂ Five MonthsÂ - BloombergÂ 9/16/2010
seizures reachedÂ a record for the third time in five months in August as
lendersÂ completed the foreclosure processÂ forÂ thousands of
Which of the above is the true headline? TheÂ Housing
Wire or Bloomberg.
Both are correct see the reason that the foreclosures went
down in August is due to banks managing the current foreclosed properties.
Banks focused on managing the process of taking back properties. This means
they focused on listing the properties and selecting property management
In the coming months you will see an up tick in notices as
the banks switch the focus from managing properties to notifying home owners.
As always just remember to read between the lines.