April Foreclosure Spike Is A "Shocker"

[Joseph Burkeson, CMI]

April Foreclosure Spike Is A "Shocker"


The second or third derivative of the housing market might be improving, but more and more Americans are getting kicked out of their homes.

According to RealtyTrac, a record 342,000 homes were given notices of default, 1% more than in March, and 32% higher than last year.

The big number is due, in part, to pent up volume from the foreclosure moratorium at the beginning of the year. But that was the reason given for March numbers, which were seen as horrible.

A spokesperson for RealtyTrac called the numbers a "shocker", especially given how bad Marcha already was.
The full report is here.

[klott]

I don't think they even know who owes what? Last week, I got a notice that bank of America bought my mortgage from Countrywide, yesterday I got a late notice from BOA that claims I have not paid them in two months and threatening me with Foreclosure! It really pissed me off, I told my wife to ignore them and let them foreclose on us, and then we will just sue the socks off of them. It's like nick said a while back, the system is so screwed up, there is no telling who owns what anymore.

[Jeff Merritt]

Ken, you should check out the Countrywide now BOA website, www.countrywide.com, they have all that info on line,,you can even look at your original loan doc's
I got something along the same lines except they say I am $10.00 short on my escrow, never had an escrow acct, I pay my own insurance and taxes.

[Dominic J. Maricic]

BOA bought Countrywide, they didn't buy your Mortgage. Obviously they screwed up the rest.