The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: bentway who wrote (281780)	10/7/2010 7:10:42 PM
From: Les H	Read Replies (1) of 306849

A delay could prolong the pain Experts say foreclosures would still be inevitable By NANCY SARNOFF and PURVA PATEL Copyright 2010 Houston Chronicle Oct. 7, 2010, 10:18AM A possible moratorium on foreclosures may help some distressed borrowers, but for the overall housing market, it will just delay the loss of homes for some Texans, real estate experts say. Texas Attorney General Greg Abbott asked 30 lenders this week to put foreclosures and sales of foreclosured properties on hold and to review the way they document repossessed properties. The request came after lenders halted some foreclosures in 23 other states amid allegations of "robosigning" — processing documents without proper review and notarization. The federal government is now looking into the allegations. "The AG demand, especially if he sues in court, will only cause a substantial delay in getting this default backlog cleared out, therefore extending the high volume on into 2011," said Amanda LeCureux, managing partner of The Woodlands-based Foreclosure Information & Listing Service. chron.com

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