think that the decline in foreclosures is really a decline in delinquent homeowners....
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While there is some evidence that the decline in AZ might be real
the number of home being foreclosed is still very high.
AZ is still 2nd in the rate of foreclosure, and
now is 3rd in the number of filing in the last six months!!!
Filing equal seven (7) times the current high monthly sales.
If that's good, what would bad look like?
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the delays in Florida due to robo-signing have not been solved
nor have the huge delinquency problem in NYC.
Look at the time it takes to foreclose in those two states!
In Florida it has not gone away, and in NYC it hasn't even begun.
Ugly.
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RATES OF FORECLOSURE:
Nevada = one in 21 households
Arizona = one in 36 households
California = at one in 51
NUMBER OF FORECLOSURE FILINGS IN 1ST 6 MONTHS
California is 1st with 263,500
Florida ranked second with 113,641
and Arizona was third at 77,525.
LENGTH OF FORECLOSURE PROCESS
The foreclosure process took longest in New
New York at an average 966 days,
New Jersey at 944 days
and Florida at 676 days
shortest in Texas, 92 days
followed by Virginia at 106 days.
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Foreclosures plunge 29% in first half of 2011
Lowest Numbers Since 2007
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Bank Delays May Push 1 Million U.S. Foreclosure Filings to 2012
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Foreclosures plunge 29% in first half of 2011
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Housing prices: No rebound in sight
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Squatter Nation: 5 years with no mortgage payment
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