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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (282143)	10/8/2010 6:49:09 PM
From: patron_anejo_por_favor	Respond to of 306849

Correct. My bad for the imprecise language. Of course, they (as well as almost all the other banks) are still dragging out the delinquency-to-foreclosure period as long as possible in the bubble states, given the ginormous backlog of REO's they're already holding on the books. This just takes some homes away from market for a few months, the inventory will just build up a bit more.

To: Les H who wrote (282143)	10/8/2010 6:58:42 PM
From: Broken_Clock	Read Replies (2) \| Respond to of 306849

WASHINGTON (AP) -- Bank of America on Friday halted foreclosures on homes across the country so it could review paperwork in tens of thousands of cases for flaws, expanding a crisis at a perilous time for the housing market. The move came as PNC Financial Services became the fourth major bank to announce that it would stop foreclosures in at least some states. It added to growing concerns that mortgage lenders have been evicting homeowners despite flawed court papers. --- ???