America Is Finally Putting the Home Foreclosure Crisis Behind It

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America Is Finally Putting the Home Foreclosure Crisis Behind It

America Is Finally Putting the Home Foreclosure Crisis Behind It

Bloomberg-

It’s taken nine years, but the number of U.S. homes in foreclosure has fallen to a level not seen since before the 2008 housing crisis.

More troubled borrowers are making their way through the foreclosure process, which can take more than five years on average in some states. The number of properties in active foreclosure declined by 24,000 to 631,000 in March, according to Black Knight Financial Services. That’s the lowest since October 2007. Neighborhoods across the country were in the coming years flooded with more than 2 million notices from banks.

The wave of foreclosures crested in 2010 when banks seized a record 1.2 million properties and served even more with notices of default, auction or repossession. People suffering from the worst economic crisis since the Great Depression just “mailed their keys to the banks and just said ‘take it’,” said Ben Graboske, a chief technology officer at Black Knight.

[BLOOMBERG]

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3 Responses to “America Is Finally Putting the Home Foreclosure Crisis Behind It”

  1. KM Engvall says:

    I got news for all that think the foreclosure crisis is done…not a chance, especially when PHH Mortgage creates fraudulent documents, cheats, lies, steals and eventually wins in court due to the fraud….someday they will be stopped, and I’m working on that…they stole $35,000 in payments, our home and a chance at retirement, all due to “someone” allowing fraudulent documents to somehow work their way through the courts, someone is looking the other way…..greed!!!!! At the expense of homeowners. When I stand in court with proof of payment and the judge sides with these crooks…something is wrong…very wrong.

  2. crittermom says:

    It’s certainly not over for those of us who lost our homes, & it’ll never be over until we see justice.
    In other words, it’ll never be over for us.
    Time for a revolution, it seems. After all, they’ve taken all we owned, so what more do we have to lose?

  3. Papergate says:

    KM Engvall – dealing with the same – please contact to share – we can help each other. This fight is definitely not over!! @aol.com

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