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Flood Levels of Underwater Mortgages Start to Ebb

By mili   Follow   Thu, 12 Jul 2012, 8:59am   260 views   2 comments
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It’s too early to say the housing market is rebounding, but some of the worst factors dragging it down are clearly on the mend.

http://www.thefiscaltimes.com/Articles/2012/07/12/Flood-Levels-of-Underwater-Mortgages-Start-to-Ebb.aspx

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1. Strategic Renter Follow Befriend 31 threads 98 comments

   1   9:04am Thu 12 Jul 2012   Share   Quote   Permalink   Like (1)   Dislike   Wishful thinking. Foreclosures have restarted with vengeance. California moved to the No. 1 spot on the foreclosure list for the first time since RealtyTrac started issuing foreclosure reports in 2005, thanks to an 18 percent year-over-year increase in foreclosure starts there in June http://www.housingwire.com/news/realtytrac-2q-foreclosure-activity-rises-some-states-see-reboot

2. Von Follow Befriend 1 comments

   2   3:44pm Thu 12 Jul 2012   Share   Quote   Permalink   Like   Dislike   well, it is the most populated state so that is not startling. What to watch is the 1st city that filed for bankruptcy and see how that turns out positively or is a sign of things to come. I heard BofA is getting little response in their effort to trim up to 150K off upside down homeowners principal. I guess people know what level of education they are dealing with there and it's a case of being too late. Consumers seeking a new loan need competent licensed professionals vs. hourly low paid staff.