Don’t sweat foreclosure rise, say housing experts

By Les Christie | CNNMoney

Nearly 52,000 U.S. homes went on the auction schedule in August, a 1% increase from 12 months earlier. Though only a slight bump, it marked the first year-over-year increase in foreclosure starts since November 2010.

This does not mean the return of the mortgage meltdown, according to Daren Blomquist, spokesman for RealtyTrac, which reported the August data.

Many foreclosures got delayed, especially starting in late 2010 when it came out that many lenders played fast and loose with the paperwork and processes needed to legally repossess homes — the “robo-signing” scandal.

Continued:

If you’d like to discuss real estate matters, contact Rose Law Group founder Jordan Rose, jrose@roselawgroup.com

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September 11, 2014

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