A certain foreclosure-subscription company is always rattling their sabre about any uptick in notices. The headline for this article is: Early Stage Foreclosure Filings up Nationwide and in Most States:
But with the banks engrossed with loan-modding anyone who can fog a mirror, the only thing that matters is how many actual foreclosures are being completed. Buried deep in the article:
The dip in total filings was due to a 10 percent reduction in bank repossessions or completed foreclosures compared to October. A total of 25,249 properties were taken into bank inventories or REO, down 17 percent from November 2013.
It was the 24th consecutive month in which completed foreclosures were lower on a year-over-year basis.
The national count of completed foreclosures has been dropping for two years straight! Bill showed how delinquencies have been tapering off too:
Regardless of how it happened, it looks like a soft landing that will last – at least as long as rates are ultra-low.
Here is how the local San Diego County numbers look: