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Waiting For Foreclosure : Planet Money Increasing numbers of foreclosures have created a backlog for lenders who are struggling to keep up. That backlog means many homeowners are still living in.
· Not every foreclosure is a bargain, and some can morph into unexpected nightmares. There are drawbacks to buying foreclosures. Still, some foreclosed homes are diamonds waiting to be polished. Inexperienced foreclosure buyers might want to hire a real estate agent for guidance and assistance. There are several ways to find foreclosures.
HIDDEN SUPPLY. Emerging From the Shadows. Though the backlog of foreclosures has eased, a largely concealed inventory of properties makes some real estate pros uneasy about its effects on the housing recovery. PAGE 32 INVESTOR PULLBACK. Field Opens for Buyers. With investors pulling back, conventional home buyers are re-entering many markets.
· The backlog in Florida has been so severe that the state has set up separate courts and brought in retired judges to handle foreclosure cases.Government.
· Foreclosures, REO properties and real estate in general offer one of the best values around! Purchasing real estate at today’s prices provides an opportunity to rebuild lost wealth through appreciation as shrinking inventories poise prices to rise.
Large Backlog Of Bank Owned Homes Posted on December 22 By Justin McHood According to USA Today , there were about 1.7 million homeowners who were far along in the foreclosure process in the fall – which means that there is a large bulge of homes that are going through the foreclosure process and will be available for sale from the banks in the spring and into 2010.
They find obvious problems, but also hidden and dangerous issues. "I don’t think there were any big surprises to us. We knew we had a backlog," she said. "We think their recommendations were very.
foreclosure cases and to ensure incoming cases meet state time standards. due to space and resource capacity issues in the trial courts and given the official forecast, which projects that foreclosure filings will not return to normal until FY 2016/17, it is not feasible to dispose of the current backlog of foreclosure cases in a single year.
Overall March foreclosure data suggest foreclosure activity may be starting to creep higher, as lenders make progress tackling a backlog of pending foreclosure cases. Banks repossessed 215,046 homes.