Thursday, January 17, 2013

Foreclosure Filings down Nationally

Foreclosure filings are down nationally, locally this is not true.  Recently filings fell 3% nationally.  In New Jersey they were up 55% and 28% increase in PA. 

According to Realtytrac filings have increased in the states that use the court system to handle them.  Realtytrac expects the numbers to remain high while the lenders catch up with their backlogs in these states. 

Investors have a huge demand for these properties. 

The nation's largest lenders are reaching settlements with the federal government from complaints regarding their foreclosures on homeowners erroneosly.

In the first 10 months of the 2012, lower foreclosure inventories gave sellers the upper hand.  Medican sale prices increased.