Monday, November 24, 2014
Inquirer Daily News

Why home foreclosures will rise again this year

After a short lull, more Americans are set to lose their homes

Why home foreclosures will rise again this year

More than 3 million American homes will be seized in foreclosure by banks and other lenders from owners who have fallen behind on their payments, loan-watcher RealtyTrac  tells Bloomberg at

http://www.bloomberg.com/news/2011-01-13/u-s-foreclosure-filings-may-jump-20-this-year-as-crisis-peaks.html

Why the increase, if the economy is getting better? A look at RealtyTrac's most recent report tells more: Foreclosures actually fell in November and December. But that's because of banks' temporary halt in new filings due to the discovery they haven't been filing proper paperwork. Foreclosures began rising again in late December, there's a backlog from last fall's delay, and there's more new foreclosures in the works as home prices continue to fall.

More from RealtyTrac at

http://www.realtytrac.com/content/press-releases/2010-year-end-foreclosure-report-6309

Joseph N. DiStefano
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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