Friday, January 17, 2014

FORECLOSURE RATES INCREASE IN 10 STATES FOR 2013

While researching my blog (soon to follow) for ramifications from the Dodd-Frank law, I came across one tidbit that most people are probably not aware. Although the overall foreclosure filings have decreased by 26 percent from 2012, there are still 10 states whose rates have increased for 2013. The real estate market isn’t out of the woods yet.

REALTYTRAC.COM, the leading online market place for foreclosures, has released its Year-End 2013 U.S. Foreclosure Market Report™. The report outlines the ups and down in the foreclosure arena, but the bottom line is that we are not out of the woods as yet.  The loss of the forgiveness clause with respect to IRS charges (see blog: SHORT SALES AND FORGIVEN DEBT) and reduction in available loans because of new Dodd-Frank regulations that just went into effect early January 2014, it does not look like things are going to get any better fast.

Follow the links for more details.

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