Foreclosure activity up across most US metro areas

[cory777]

Source: Associated Press

LOS ANGELES – The foreclosure crisis intensified across a majority of large U.S. metropolitan areas this summer, with Chicago and Seattle — cities outside of the states that have shouldered the worst of the housing downturn — seeing a sharp increase in foreclosure warnings.

California, Nevada, Florida and Arizona remain the nation's foreclosure hotbeds, accounting for 19 of the top 20 metropolitan areas with the highest foreclosure rates between July and September, foreclosure listing firm RealtyTrac Inc. said Thursday.

Those states saw housing values surge during the housing boom years. When the boom ended, values collapsed and foreclosures soared.

But the latest data show that many of the metro areas in those states saw a decline in the number of households receiving foreclosure-related filings, while many cities in other states saw a spike in foreclosure activity.

Read more: http://news.yahoo.com/s/ap/20101028/ap_on_bi_ge/us_foreclosure_rates

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UNCENSORED ACTIVIST NEWS http://activistnews.blogspot.com/

[Ichingcarpenter]

1. Wow Las Vegas 1 in 25 homes are served with foreclosure

The Seattle-Tacoma-Bellevue metro area registered the sharpest annual increase — 71 percent. One in every 129 households received a foreclosure filing.


The Chicago-Naperville-Joliet metropolitan area posted the second-highest annual jump, a 35 percent increase. One in every 84 households received a foreclosure notice.

The Las Vegas-Paradise, Nev., metropolitan area topped the list of metropolitan areas with the highest foreclosure rates in July-September with one in every 25 homes receiving a foreclosure warning — more than five times the national average

[lib2DaBone]

2. Mr. Obama... freeze these foreclosures until it can be sorted out...

For once... protect the people who elected you instead of the banks.

[txlibdem]

3. Don't worry. Our Democrats will protect the big banks and corporate interests. Never fear.

It almost sounded to me like you thought the millionaires inside or out of our government give a single solitary tinkers damn about us losing our homes... I'm sure I didn't hear that right. Once the big banks were stabilized the story was over. The work was done. The rest is just going to sink or swim on its own.

Never mind that all the homes being taken away could have been paid off in full instead of giving away almost a trillion dollars to the banks.

[eppur_se_muova]

4. US foreclosure crisis becomes more widespread

Source: BBC

The foreclosure crisis in the US has spread across a wider area of the country, according to RealtyTrac, which monitors repossession activity.

The organisation said foreclosure notices increased across a majority of large metropolitan areas, including Chicago and Seattle.

Previously, these cities had seen relatively low levels of activity.

Separately, Wells Fargo said it would refile documents on 55,000 foreclosures after admitting technical mistakes.



Read more: http://www.bbc.co.uk/news/business-11646439

[DJ13]

5. refile documents on 55,000 foreclosures after admitting technical mistakes

So they've found better forgers?

[louis-t]

6. Wells, as a whole, is totally incompetant.

They are the document losing kings of the financial world. It's like everyone that works in asset management there is 5 years old.

[CoffeeCat]

7. And I don't get what is going on with Wells...

They've announced publicly that they'll refile thousands of foreclosures. Why? Why
didn't they just do it. Why are they letting us know this?

I wonder if they even have the notes on those mortgages. What exactly does that mean
that they are refiling foreclosures? Does this mean that these foreclosures are
currently improper and that they're in the process of making them right?

I don't get it.

There's more to this story.

I need to learn more info about this, but it's obvious that something stinks.

[ljm2002]

8. And oddly enough...

...their "incompetence" always works out to their advantage.

Strange, that.

Or maybe not.

[customerserviceguy]

9. As long as the foreclosures continue

the economy will not turn around, no matter how things turn out Tuesday. Until real estate bottoms out, everything else connected with it (like construction jobs, for example) is in deflationary free-fall as well.