All categories of foreclosure, (freshly instituted foreclosures, foreclosures in progress, and completed foreclosures) experienced solid gains of almost 20% from Q4 in 2009. Clearly the legal system is being tested to the very boundaries of its capacity. With fundamental assistance from the Home Affordable Modification Program (HAMP) loan modifications have increased slightly by approximately 5%. [...]
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According to Foreclosure Radar, foreclosure activity was mixed in June, after being down across the board in May. Foreclosure sales show a decrease while foreclosure filings have significantly increased. June shows a record number of cancelled foreclosure sales. The foreclosure filing increase was primarily driven by just one lender JP Morgan Chase, and it’s acquisitions [...]
