US Foreclosures Continued to Rise in Third Quarter

CNBC ^ | 10/15/2009 | Joseph Pisani

[fiscon1]

The number of Americans receiving a foreclosure notice in the third quarter continued to grow, according to a new report, despite government programs intended to attack the problem.

[WeatherGuy]

There's only one thing to do:   MORE BAILOUTS!!     /s

[Dem Guard]

Which is the real barometer of the economy? The stock market, which can tank on a dime, or the continuing record level home foreclosures?

[Zeddicus]

Impossible. The recession is over, the DOW is over 10k, and Obama won the Nobel Peace Prize.

[fiscon1]

That’s simplistic. They’re all a barometer.

[traderrob6]

Related...

http://exposingtheleft.blogspot.com/2009/10/foreclosures-worst-three-months-of-all.html

[thirst4truth]

Please don't blame the Realtors! The banks are more AH's than ever. They will not work with the homeowner to renotiate the loan, they will not work with the Realtors to "short sale" the house. (Take less than the mortgage owed in a sale price) and they will not hurry along the foreclosure process to get the home sold and off their books.

The banks are so bad out there right now it is hard to help your client. The average response time when you make an offer on a house that is a "short sale" is five weeks. FIVE weeks just to hear from the bank if they will accept less money than is owed. Meanwhile the foreclosure time bomb is ticking so many times you have a willing and able buyer and seller moving to closing and then the bank finishes the foreclosure, and the deal is dead because they have sold the home on the court house steps.

Does the government want to slow down the foreclosures? Then cut taxes to small business and work on getting Americans jobs!!!

[Dem Guard]

Well I know not from what vantage point you speak so I’ll take your word for it little grasshopper.