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Despite rising job losses, foreclosures are stabilizing

Full story: Lowell Sun

The number of homeowners on the brink of losing their homes dipped in October, the third straight monthly decline, as foreclosure prevention programs helped more borrowers.

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Gary

United States

....No jobs...no $$$...no sustainability = fall of capitalism

Tyngsborough

Merrimack, NH

Home preices need to come down another 50%. Towns like Westin, MA are drowing in overpriced mansions.

okay

Lowell, MA

Tyngsborough wrote:

Home preices need to come down another 50%. Towns like Westin, MA are drowing in overpriced mansions.

The people in Weston can afford their mansions. Where the problems are going to continue are towns/cities with large working-class and middle-class residents, because those are the people who are hit the hardest in this recession (and also the towns that saw lots of overvaluing during the bubble).

Born in the USA

Chelmsford, MA

That sure is bad.

HAMPLIE

Alpharetta, GA

http://www.associatedcontent.com/article/2381...

The reality of Obama's HAMP "Hurting Any Modification Possiblity" Program

Larry

Alpharetta, GA

http://www.associatedcontent.com/article/2381...

The reality of Obama's HAMP.."Hurting Any Modification Possibility" Program..

Bacon Hill

Maynard, MA

re: Also, anecdotally, lenders are delaying foreclosure as they evaluate which borrowers might qualify for the federal loan modification program, he said.

"That's the reason there's been a buildup of homes that are seriously delinquent but not foreclosed," he said -

Key point is the gov't efforts are causing a buildup seems to not register with those who see this as good news. Also, banks are finding out they can make good money on delinquent loans by collecting fees. Unfortunately analysts don't seem to be analysts anymore since they can't see the underlying problems and instead issue spin.

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