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Is the Number of Foreclosures Going Up or Down?

Livinglies's Weblog

It depends who you ask, when you ask and where you ask. The Wall Street Banks have been very effective at putting out stories to make it appear that foreclosures are all but over.

You can read story after story about how foreclosures are “lowest since” 1991 or whatever. But in an age of 140 characters you need to read just a little bit further to see that the article came from a small town newspaper in a place where the population is 300. There are dozens of stories like this each with the announced purpose of conveying that the foreclosure crisis is over and legislatures need not do anything against banks and servicers anymore. Rocket Dockets have been rolled up and the banks have stopped paying for them which is whole other story.

The current Wall Street strategy is to maintain the appearance of a disappearing problem. The principal…

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One Response

  1. […] via Is the Number of Foreclosures Going Up or Down? — California freelance paralegal […]

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