Metro Atlanta Foreclosure Notices Down 12 Percent This Year

Don’t believe the hype. This is not necessarily a good thing, and as a fact, I know it’s not. Just because foreclosure notices are down means nothing regarding actual foreclosure numbers. There is a huge amount of shadow inventory still lingering on many of the local bank’s books, almost a years worth actually. More foreclosure are coming, and soon. I predict that the banks will wait until after the holiday to begin releasing more foreclosures and begin to post notices directly after Christmas. A major problem is the continued backlogging of foreclosures and per-foreclosures. Banks and asset managers alike are realizing that it’s more beneficial for them to allow people to stay in their homes for longer periods of time to allow them to maintain the asset and help keep home values up. This in itself it delaying the foreclosure process, especially since the feds continue to roll out new regulations regarding such matters. So to conclude, do not pay attention to the data regarding foreclosures or notices because you have to step back and discover the entire picture.
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