State of Foreclosures – ARTIFICIALLY LOWER THAN RECENT PAST

According to RealtyTrac – foreclosures in Connecticut are down 39% from the 4th quarter of 2010 and 65% percent from last year.

According to James J. Saccacio, RealtyTrac’s CEO, said that it was due to “weak demand, declining home prices and the lack of credit availability…..the dual threat of a looming shadow inventory of distressed properties and the probability that foreclosure activity will begin to increase again as lenders and servicers gradually work their way through the backlog of thousands of foreclosures that have been delayed due to improperly processed paperwork.”http://rcm.amazon.com/e/cm?t=debhalsey&o=1&p=8&l=bpl&asins=1413310591&fc1=000000&IS2=1&lt1=_blank&m=amazon&lc1=0000FF&bc1=000000&bg1=FFFFFF&f=ifr

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.