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Number of Foreclosures up

Prior to the summer the number of forcloseures were down. Now with summer almost up the number is going up. Why?

Back in February the banks settled allegation of robo-signing to the tune of $25 billion.

Since then the number of foreclosures have go up. In turn the inventory is down right now. That is what is on the current market to be sold.

That should be s sign for investors the inventory will pick up in a few month. Since it has been a few months of low inventory.

According to the Tribune article banks are turning to short sale due to the cost of foreclosure and turning it over to resell. It is funny many investor knew that it was more costly to foreclose then short sale. Where the banks trying to make a point? I guess they can only take on so much loss.

 

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