Fewer Foreclosures in April?
I must admit, I tend to track the “trailing indicators” of the foreclosure process. A sold REO is nothing if not a property that has been well and truly through the whole nine yards of the process. If instead you look at short sales or track Notices of Default, you’re looking at the leading edge of foreclosures.
One encouraging bit of news I read about recently was the possibility that foreclosure numbers were down for April. Carol Lloyd suggested this in her article, Making Sense of Contradictory Foreclosure Numbers.
Of course, as you can guess from the title of that article, the jury’s still out on whether there really was a decline in foreclosure filings in April or whether we’re still well and truly on a path to inevitable destruction, combining the $4.00 home with the $250,000 gallon of gas.
Oh the humanity.
But meantime, check out this tidbit from Foreclosures.com, the rosier of the contradictory numbers:
“In most of our areas it’s getting better or staying the same and in some of our areas, there were huge drops in foreclosures ,” she told me. “In California, we went from 47,000 in March to 39,000 in April. That’s huge.”
I’ll take my good news where I can get it.
