One recent blogger commented:

“All the news you have heard this last month does not bode well for those trying to foreclose on poor home owners. Foreclosure levels have dropped tremendously. And the housing market reacts.

“This may or may not be good news based on how you view it. For one, the banks are slowed down due to the fact most judges won’t look at their robotically processed foreclosure documents. The twenty one percent drop means that only about 230,000 foreclosures were processed in the last few months.

“Of course the banks are gnawing at the bit to keep the foreclosure machine running. They would love to continually clamp down on the bearers of their unfortunate loans. But they have more important things to do nowadays: Like convincing their lawyers to represent them when judges are threatening personal repercussions for attorneys presenting these false bank documents. And dealing with reflings of false foreclosures.

“So the low number could mean one of two things: Either they are charging up for a second assault, or they truly have to face alternatives such as short sales and deed in lieu. If you are in trouble with the banks, keep in mind- they’re not as confident as they used to be.”

That may be true; but it would be hard to convince a lot of homeowner/borrowers of that fact.
One thing for sure:  This is the market we’re in.  It’s not something that is going to change soon.



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