Foreclosure Drop in November
Foreclosures have fallen for the fourth strait month and 8% in November. This does not mean that the crisis is over given the current unemployment rate. It was reported at 14% of homeowners are late on their payments, that may not bode well for the future foreclosure numbers. It does not seem that the current mortgage modification plan is working and it may be time for congress to allow homeowners to cram down mortgages in a chapter 13 bankruptcies.Write a comment
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