The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Information on this website may not be current. This website may contain links to other third-party websites. Such links are only for the convenience of the reader, user or browser; we do not recommend or endorse the contents of any third-party sites. Readers of this website should contact their attorney, accountant or credit counselor to obtain advice with respect to their particular situation. No reader, user, or browser of this site should act or not act on the basis of information on this site. Always seek personal legal, financial or credit advice for your relevant jurisdiction. Only your individual attorney or advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, contributors, contributing firms, or their respective employers.
Credit.com receives compensation for the financial products and services advertised on this site if our users apply for and sign up for any of them. Compensation is not a factor in the substantive evaluation of any product.
[Featured Product: Looking for credit cards for bad credit?]
“Foreclosure activity continued to slow in the first half of 2011, especially in the most foreclosure-saturated markets and in markets where the judicial foreclosure process is used,” said James Saccacio, chief executive officer of RealtyTrac. “The 20 metro areas with the biggest year-over-year decreases in foreclosure activity were all in states with judicial foreclosure processes – New York, Maryland, Florida, New Jersey, Connecticut, Massachusetts, and Illinois.”
Some other problems could loom for the mortgage industry as well, because banks and the federal government are still in a bit of a shoving match over the settlement banks must pay for their part in the robosigning scandal, according to the Wall Street Journal. In particular, the banks are squabbling over how much each will have to pay as part of the agreement.
[Resource: The Ultimate Guide to Underwater Mortgages]
Image: Mike Wilson, via Flickr.com
December 13, 2023
Mortgages