The sales in distressed properties dropped significantly in the month of October.  According to a survey conducted by Campbell/Inside Mortgage Finance, “14% of owner-occupant homebuyers and 6% of investors refused to view foreclosed properties”.  This drop is a direct result of the current freeze that major lenders have put on their foreclosure process.  Fortunately for [...]

A New York Times article this Wednesday discussed the hearings that took place this week between several state attorneys general and major mortgage lenders.  Although the major lenders are being investigated for their foreclosure procedures, both the banks and the attorneys general agree that a recovery in the housing market is essential to repairing the [...]