Foreclosures Are Down – But Not For Long

The effect of the recent foreclosure scandal is a reduction in new foreclosures. The scandal involved employees at the mortgage companies signing affidavits without first reviewing the underlying facts.

The resulting uproar led to a decline in foreclosure filings. Foreclosure have dropped by 27% during the last six months. But this is because the banks are tightening their procedures. Expect the number of foreclosures to rise during the coming months.

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