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 "One in every 624 U.S.
households (nearly 211,000 in total) got
hit with some sort of foreclosure filing in January." according to CNN
Money. "The number of homes hit with a notice of
default, auction sale, bank repossession or some other foreclosure filing in
January rose 3% since December, but it was still significantly lower than it
was a year ago."
Foreclosures will be
moving more quickly this year. The $26 Billion foreclosure settlement by
the state attorneys general makes banks process foreclosures more openly and
uniformly than in the past.
"As a result of this settlement, the banks will end a series of problematic processes that put homeowners at a severe disadvantage during the foreclosure process." stated Colorado Attorney General, John Suthers. "This settlement will not solve every problem with the housing market, but it goes a long way to helping homeowners in distress now and leveling the playing field for consumers."
The settlement -- the second largest multistate consumer protection settlement -- will deliver $204.6 million worth of relief for Colorado homeowners.
States with the
largest foreclosure filings include Florida, Nevada, California and Arizona.
Read the full article at CNNMoney.com
 photo credit: bogieharmond
Posted on February 21, 2012 10:48:07 by  IPTV.Boyz
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