Foreclosures have Risen in Early 2013

MHProNews has learned from HousingWire housing analyst firm RealtyTrac reports foreclosure activity rose to 1.5 million in the first quarter of 2013, nine percent more than the same period in 2012, but considerably less than the peak 2.2 million in December 2010. Daren Blomquist, vice president at RealtyTrac, says, “Delinquent loans that fell into a deep sleep after the robo-signing controversy in late 2010 are gradually coming out of hibernation following the finalization of the national mortgage settlement in April 2012.” The settlement says Bloomquist has encouraged lenders to push more delinquent loans into the foreclosure process, especially in states where slow court procedures has resulted in a larger backlog.

(Photo credit: Michael Williamson/Washington Post–Barbara Zucker takes prospective home buyers on bus tour of Las Vegas foreclosures.)

mas kovach mhpronews shopping with soheyla .jp

Get our ‘read-hot’ industry-leading 

get our ‘read-hot’ industry-leading emailed headline news updates

Scroll to Top