Foreclosure Trends Today
Posted by Editor on May 10, 2010 · Leave a Comment
First of all, what is foreclure?
Foreclosure is the legal and professional proceeding in which a mortgagee, or other lien holder, usually a lender, obtains a court ordered termination of a mortgagor’s equitable right of redemption.
Foreclosures took a turn for the worse in the United States during the fall on Wall Street in 2008.
In fact, foreclosures in WA, CA, AZ and most states, surpassed three million in 2008, calling for more efforts from Washington DC lawmakers.
What’s in store for 2010? Well, officials from Realty Trac are suggesting that foreclosures for 2010 could go as high as four million, which might be considered the peak of the foreclosure cycle.
It’s possible that the US foreclosure fiasco won’t stabilize until the end of 2012.
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