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Forbes: Have All The Bad Loans Already Been Foreclosed?

U.S. foreclosure starts dropped to a six-year low in January, another strong indication that the U.S. housing market is recovering and the worst of the foreclosure crisis is behind us.

By Toby Tobin
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Palm Coast, FL – February 20, 2013U.S. foreclosure starts dropped to a six-year low in January, another strong indication that the U.S. housing market is recovering and the worst of the foreclosure crisis is behind us.
But what specifically is driving this decreasing foreclosure activity? Is it simply a matter of rising home prices pulling more troubled homeowners back from the brink of foreclosure? Or should the numerous foreclosure prevention efforts at the national, state and local level get the lion’s share of the credit for the slowdown in foreclosure activity?
Read More >>>> Forbes
Toby's Commentary: Note that Forbes cites RealtyTrac as its foreclosure information sources. I find RealtyTrac's reported statistics unreliable. Forbes is credible and generally reliable but this article cannot be taken too seriously because the underpinning data is likely flawed. However, I do support Forbes' conclusion that the worst of the foreclosure crisis has past.
reader comments
Misleading
Posted by Dave
Feb 20, 2013, 7:33 pm
Thst's an article to make you feel good and spend your money. The backstory is that the banks sold off entire portfolios of distressed residential loans at the end of 2012. The opportunistic investors have not received full documentation and haven't reviewed the portfolios for the low hanging fruit. In another two months we'll see a "surprising" spike.

 
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Don "Toby" Tobin is a licensed real estate professional affiliated with Watson Realty Corp. Toby is a member of the Flagler County Association of Realtors®, the Florida Association of Realtors, Enterprise Flagler, Flagler Home Builders Association, and the National Association of Realtors.

GoToby.com proivdes real estate news, commentary, and analysis for Palm Coast and Flagler Country Florida, as well as Realtor® referrals and consultation to buyers, sellers, and developers.