Thread: Foreclosure filings drop to five-year low in September

Foreclosure filings drop to five-year low in September

WASHINGTON -- Foreclosure filings fell in September to their lowest level in more than five years as a housing market rebound showed another sign of taking hold.

Substantial decreases in California and some other states hard-hit by the collapse of the housing bubble helped reduce filings to 180,427 last month, down 7% from August and 16% from a year earlier, according to foreclosure listing firm RealtyTrac.

The last time filings were that low was in July 2007.

http://www.latimes.com/business/mone...,3876992.story

Another sign the housing market has finally hit bottom and is starting to mend, along with the economy.

To paraphrase another thread and the conservative "experts" here: Thanks Obama!

Even if it is true, it won't save him.

Originally Posted by DonGlock26

Even if it is true, it won't save him.

Individual mandate ruled unconstitutional

Originally Posted by Iriemon

Individual mandate ruled unconstitutional

Dont you complain when people go offtopic?

Originally Posted by RP12

Dont you complain when people go offtopic?

Sometimes. Why do you ask? You think I should have pointed that out to DonGlock?

Originally Posted by Iriemon

Foreclosure filings drop to five-year low in September

WASHINGTON -- Foreclosure filings fell in September to their lowest level in more than five years as a housing market rebound showed another sign of taking hold.

Substantial decreases in California and some other states hard-hit by the collapse of the housing bubble helped reduce filings to 180,427 last month, down 7% from August and 16% from a year earlier, according to foreclosure listing firm RealtyTrac.

The last time filings were that low was in July 2007.

http://www.latimes.com/business/mone...,3876992.story

Another sign the housing market has finally hit bottom and is starting to mend, along with the economy.

To paraphrase another thread and the conservative "experts" here: Thanks Obama!

Absolutely nothing to do with Obama, his foreclosure plan failed....

Obama Housing Plan

In March 2009, the Obama administration announced what it described as a $75 billion plan to end the foreclosure crisis by keeping defaulting owners in their homes. The Home Affordable Refinance Program was designed to help homeowners whose mortgages were backed by the government. But despite several attempts to revamp the program, it fell vastly short of its goals.

By July 2010, only 390,000 homeowners had had their mortgages permanently modified, according to a report by the special inspector general for the Troubled Asset Relief Program, the bank bailout plan that was the source of funds for the program. The original hope had been that three to four million homeowners would be helped, of the seven million households then behind on their mortgages and at risk of foreclosure.

In December 2010, a Congressional panel called the program “a failure,’' and said that it would likely end up helping about 750,000 homeowners. Saying it was a waste of money, the Republican-controlled House voted in March 2011 to kill the foreclosure relief program. The Democrats who controlled the Senate said they would pursue a rescue. But Democrats, too, considered the program badly flawed.

http://topics.nytimes.com/top/refere...lan/index.html

How many homes aren't in foreclosure, that should be?

Originally Posted by Professor Peabody

Absolutely nothing to do with Obama, his foreclosure plan failed....

....

Originally Posted by Professor Peabody

He [Obama] IS responsible for what's happening in the economy today

It all depends on whether the news is good or bad, right?

Originally Posted by coolguybrad

How many homes aren't in foreclosure, that should be?

How many?

Originally Posted by Iriemon

Another sign the housing market has finally hit bottom and is starting to mend, along with the economy.

To paraphrase another thread and the conservative "experts" here: Thanks Obama!

It may be that other thread in which I explained why I don't think it will help. They can have him coming or going. Briefly: either he controls this stuff and should have fixed things sooner, or it was just luck, or, the numbers lie.

http://www.rocklandtimes.com/2012/10...t-dip-is-fake/

My own take: even his bad policies could only keep the nation down so long.