The recent growth in U.S. home prices may hit a roadblock in the coming months, thanks to a new supply of distressed properties hitting the market.
Banks are moving more delinquent loans through the pipeline at a faster pace, according to a new report released Thursday by foreclosure sale website RealtyTrac. The number of homes starting the foreclosure process for the first time grew for the second month in a row on an annual basis.
Just over one million properties received some kind of foreclosure filing in the first half of this year, an increase of two percent from the previous six months, according to RealtyTrac.
The numbers are still down 11 percent from a year ago, largely because banks were still in settlement talks over the so-called, “robo-signing” foreclosure paperwork scandal. After a $25 billion settlement early this year, the banks began moving loans again.
Foreclosure starts, the first stage of the process, rose 9 percent in the second quarter of this year from the previous quarter, with the volumes
http://www.cnbc.com/id/48162123/1/displaymode/1098/
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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