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Author Topic: Foreclosure filings jump 24%  (Read 717 times)

Bindare_Dundat

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Foreclosure filings jump 24%
« on: April 20, 2009, 04:58:36 PM »
March and first-quarter total filings were the highest monthly and quarterly totals on record. Repossessions fall 3%.

NEW YORK (CNNMoney.com) -- Foreclosure activity skyrocketed in March and the first quarter of 2009 to their highest levels on record as banks lifted moratoria on filings.

Total foreclosure filings - which include default papers, auction sale notices and repossessions - reached 803,489 in the first quarter, according to a report released Thursday by RealtyTrac, on online marketer of foreclosed properties. That is a 24% jump over a year earlier and a 9% increase compared to the previous quarter.
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Soul Crusher

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Re: Foreclosure filings jump 24%
« Reply #1 on: April 20, 2009, 06:46:13 PM »
Quote from: Bindare_Dundat on April 20, 2009, 04:58:36 PM
March and first-quarter total filings were the highest monthly and quarterly totals on record. Repossessions fall 3%.

NEW YORK (CNNMoney.com) -- Foreclosure activity skyrocketed in March and the first quarter of 2009 to their highest levels on record as banks lifted moratoria on filings.

Total foreclosure filings - which include default papers, auction sale notices and repossessions - reached 803,489 in the first quarter, according to a report released Thursday by RealtyTrac, on online marketer of foreclosed properties. That is a 24% jump over a year earlier and a 9% increase compared to the previous quarter.


Glimmers of hope abound everywhere!
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tu_holmes

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Re: Foreclosure filings jump 24%
« Reply #2 on: April 20, 2009, 06:47:56 PM »
Quote from: 333386 on April 20, 2009, 06:46:13 PM
Glimmers of hope abound everywhere!

Obama's Mortgage plan only went into effect in mid-march... You can't put this on him.
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Bindare_Dundat

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Re: Foreclosure filings jump 24%
« Reply #3 on: April 20, 2009, 08:04:09 PM »
Quote from: tu_holmes on April 20, 2009, 06:47:56 PM
Obama's Mortgage plan only went into effect in mid-march... You can't put this on him.


I think it has more to do with some suggesting that things are turning around.
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tu_holmes

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Re: Foreclosure filings jump 24%
« Reply #4 on: April 20, 2009, 08:40:00 PM »
Quote from: Bindare_Dundat on April 20, 2009, 08:04:09 PM
I think it has more to do with some suggesting that things are turning around.

There are signs of improvement in the economy... I don't think you could really say Obama is responsible for those either.
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Bindare_Dundat

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Re: Foreclosure filings jump 24%
« Reply #5 on: April 20, 2009, 08:54:36 PM »
Quote from: tu_holmes on April 20, 2009, 08:40:00 PM
There are signs of improvement in the economy... I don't think you could really say Obama is responsible for those either.

What signs were you referring to?
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tu_holmes

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Re: Foreclosure filings jump 24%
« Reply #6 on: April 20, 2009, 08:59:57 PM »
Home sales, consumer spending... consumer confidence... Stuff like that.
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Bindare_Dundat

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Re: Foreclosure filings jump 24%
« Reply #7 on: April 20, 2009, 10:54:01 PM »
Durable goods down, foreclosures up, unemployment up, more bailouts for automakers and auto parts suppliers, tax revenue way down, housing starts way down, $1.8 trillion deficit this year, shrinking GDP, commercial real estate tanking,  airline earnings nosediving, house sales are up because of foreclosure resales in less expensive neighborhoods,  Meanwhile, sales in "more expensive established areas" have slowed to a trickle and the list goes on.



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Bindare_Dundat

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Re: Foreclosure filings jump 24%
« Reply #8 on: April 21, 2009, 07:07:27 PM »
Indicators bear grim news: Recession still going strong.

The index of U.S. leading economic indicators fell more than forecast in March, signaling that what may be the longest recession in the postwar era could extend into the second half of the year.

The Conference Board's gauge, which points to the direction of the economy over the next three to six months, fell 0.3 percent after a 0.2 percent drop in February. The gauge hasn't risen since last June.

Rising unemployment and tight credit mean recent gains in consumer spending, the biggest part of the economy, will probably not be sustained. Stocks dropped as a report by Bank of America Corp. raised concern that Americans will keep falling behind on loan payments.

"There's no reason to think that this recession is going to end any time this spring or this summer," said Ken Goldstein, an economist at the New York-based Conference Board.

Six of the 10 measures in Monday's report subtracted from the index, led by a plunge in building permits and declining stock prices.

http://www.denverpost.com/business/ci_12186502
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bigdumbbell

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Re: Foreclosure filings jump 24%
« Reply #9 on: April 21, 2009, 07:19:42 PM »
i'm hearing of stalled projects starting up again.  gonna take time to filter to the hardest hit areas.
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Bindare_Dundat

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Re: Foreclosure filings jump 24%
« Reply #10 on: April 21, 2009, 07:24:16 PM »
Quote from: bigdumbbell on April 21, 2009, 07:19:42 PM
i'm hearing of stalled projects starting up again.  gonna take time to filter to the hardest hit areas.

 I'd like to see a turn around because the industry I work in is getting hammered hard, but I have little faith at this time that things are getting better. Work is slowing down for me to the point where if it gets any worse I'm gonna have to start looking for a job instead of continuing to work for myself.
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bigdumbbell

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Re: Foreclosure filings jump 24%
« Reply #11 on: April 21, 2009, 07:59:21 PM »
Quote from: Bindare_Dundat on April 21, 2009, 07:24:16 PM
I'd like to see a turn around because the industry I work in is getting hammered hard, but I have little faith at this time that things are getting better. Work is slowing down for me to the point where if it gets any worse I'm gonna have to start looking for a job instead of continuing to work for myself.
what region of the country do you work?
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Bindare_Dundat

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Re: Foreclosure filings jump 24%
« Reply #12 on: April 23, 2009, 07:59:45 AM »
Existing home sales slip
Realtors say home resales fall 3% in March after a spike in the previous month.
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BM OUT

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Re: Foreclosure filings jump 24%
« Reply #13 on: April 23, 2009, 10:21:39 AM »
All this money that was thrown at the economy has accomplished NOTHING!!!!Oh wait,it did get 25 new police jobs in Ohio.No need to fear,we have created 25 jobs.
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tu_holmes

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Re: Foreclosure filings jump 24%
« Reply #14 on: April 23, 2009, 11:14:26 AM »
Quote from: BILLY MIMNAUGH on April 23, 2009, 10:21:39 AM
All this money that was thrown at the economy has accomplished NOTHING!!!!Oh wait,it did get 25 new police jobs in Ohio.No need to fear,we have created 25 jobs.

It freed up credit markets to allow business to continue... You can't say it did nothing just because you don't understand corporate finance.
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Soul Crusher

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Re: Foreclosure filings jump 24%
« Reply #15 on: April 23, 2009, 11:17:52 AM »
Quote from: tu_holmes on April 23, 2009, 11:14:26 AM
It freed up credit markets to allow business to continue... You can't say it did nothing just because you don't understand corporate finance.

More people filed for UE than ever today. 

Banks are still not lending to borrowers. 

Credit Card Companies are cutting lines of credit to people. 
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tu_holmes

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Re: Foreclosure filings jump 24%
« Reply #16 on: April 23, 2009, 11:22:42 AM »
Quote from: 333386 on April 23, 2009, 11:17:52 AM
More people filed for UE than ever today. 

Banks are still not lending to borrowers. 

Credit Card Companies are cutting lines of credit to people. 

I understand... But it's not about credit to people... It's about credit to corps who employee people and make products.

That's what it was about.
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Hereford

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Re: Foreclosure filings jump 24%
« Reply #17 on: April 23, 2009, 11:22:46 AM »
Ya... how come my bank got billions in free stimulous moneys to 'free up the credit market', yet still charges 5.75% for a home loan?
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