U.S. Homes Lost to Foreclosure Up 25 Percent

[Amerigo Vespucci]

Source: Fox News

LOS ANGELES -- Lenders took back more homes in August than in any month since the start of the U.S. mortgage crisis.

The increase in home repossessions came even as the number of properties entering the foreclosure process slowed for the seventh month in a row, foreclosure listing firm RealtyTrac Inc. said Thursday.

In all, banks repossessed 95,364 properties last month, up 3 percent from July and an increase of 25 percent from August 2009, RealtyTrac said.

August makes the ninth month in a row that the pace of homes lost to foreclosure has increased on an annual basis. The previous high was in May.

Read more: http://www.foxnews.com/us/2010/09/16/homes-lost-foreclosure-percent/

[another saigon]

1. the banksters held on to inventory

I guess they have begun the purge. What country is this again?

[Dappleganger]

2. K&R

For the hearts and rainbows crowd.

(They call us the doom and gloom D&G crowd, so back at ya bubble blowers).

[Dr.Phool]

5. Yep, things are really getting better, ain't they?

And then the Dems are going to take 10 more Senate seats in November!

:beer: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl:


Maybe I'll finally get my pony then.

[Dappleganger]

7. *snort*

:toast:

[xchrom]

6. ...

:spray: bubble blowers!

[SammyWinstonJack]

8. +1

[tomm2thumbs]

3. the banks know when to release bad news and time its damage for maximum impact

I don't doubt you are going to see a lot of 'bank related' terrible news start to suddenly start showing up in hopes that they can influence the elections with maximum impact against the Democratic Party.

The banks have gotten their money back and now they want the spend-free GOP back in power to rape the country some more.

Is it any surprise?

[Romulox]

4. The Devil almost ALWAYS tricks you in some horrible way when you sell your soul to him...

At least in all the old stories. Seems like an apt analogy here.

[slackmaster]

9. In every heartache, a dream home

Apologies to Bryan Ferry and Roxy Music.

I know several people who were able to buy their first homes in the last two years - All were REOs.

A foreclosure is tragic for the person or family who loses a home, but that often leads to someone else being able to afford to buy it.

[brentspeak]

10. Most foreclosures are not REOs.

A REO is property that went unsold during an initial foreclosure sale, and most foreclosures are not REOs. So there's primarily tragedy -- not silver linings -- in the majority of foreclosures.

[slackmaster]

11. Most non-REO forecloseure sales end up being owner-occupied properties

So your point about most foreclosures not being REOs is irrelevant.

[brentspeak]

12. If the point was "irrelevent", then why did you go out of your way to mention REOs?

:crazy:

[slackmaster]

13. The people who I know personally, who have bought foreclosed homes, all bought REOs

It's just a coincidence.

Do not be distracted by shiny object. Keep your eye on the point of the THREAD.

[OhioChick]

14. People need JOBS n/t

[Lost4words]

15. this stat wont bother the rah rah crowd or the administration