Watch"Despite reports of a thawing housing market, yet another wave of foreclosures appears to be looming, real estate records filed in multiple metro-Denver counties indicate.
The recording of deed-of-trust assignments in Colorado — the ownership rights of mortgages and the ability to foreclose on them — has more than doubled in the first five months of the year compared with the same period last year, The Denver Post has found.
Some experts say the increase is a sign that lenders are gearing up for a new round of foreclosures, and, if only half the filings become actual foreclosure cases, it could approach the worst of the foreclosure crisis that mushroomed in 2007."
http://www.denverpost.com/business/ci_20895107/colorado-could-be-facing-new-wave-foreclosures
Follow
Befriend (4)
335 threads
923 comments
barbaraG,
I've been researching foreclosures that aren't on the market. About 10 mos, ago I met an insider that told me that some banks are cleaning up the paper trail before their REOs go to market.
Follow
Befriend
1 threads
9 comments
I'm having a tough time making a decision on pulling the trigger for purchasing a house and reading stuff like this is not helpful.
The next 6-12 months will be interesting, especially immediately after the election.
Follow
Befriend (13)
103 threads
3,768 comments
Nothing will happen until election. A lot might change after. Plenty of foreclosures are out there looming, last year to not pay taxes on debt forgiveness as well...