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Indianapolis Real Estate

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Did you see this headline in August 2010


Foreclosures down for third straight month as lenders manage backlog–Housing Wire 9/16/2010

“Foreclosure filings in August fell 5% from a year ago, the third straight month of declines.”

 

U.S. Home Seizures Reach Record for Third Time in Five Months - Bloomberg 9/16/2010

“U.S. home seizures reached a record for the third time in five months in August as lenders completed the foreclosure process for thousands of delinquent owners.”

Which of the above is the true headline? The 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 companies.

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.

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