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Foreclosures fall to lowest level since 2007

Foreclosures fall to lowest level since 2007
By Les Christie, CNN Money, May 17, 2012

NEW YORK — Foreclosure filings in April fell for the third straight month to the lowest level since July 2007.

Will Short Sales Finally Save the Housing Market?
By Daren Blomquist, RealtyTrac Vice President, May 15, 2012

Short sales, where a distressed property (often in foreclosure) is sold for less than what is owed on the mortgage, have long been viewed as an elegant solution to the nation’s foreclosure problem — at least in theory. A short sale, in theory, provides a win-win-win for the buyer, bank and even the seller. The buyer purchases a house they want at a price they can afford, the bank gets the best price for its distressed asset, and the seller walks away from a mountain of debt, free to get a fresh start.

 

Posted: Thu, May 17 2012 8:50 AM by joelc

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