HUFFINGTON POST: U.S. home repossessions rose to a nine-month high in November, even as the number of homes starting on the path to foreclosure declined to the lowest level in six years…
But the number of homes entering the foreclosure process or scheduled for auction for the first time, so-called foreclosure starts, sank to 77,494. That’s a decline of 13 percent from October and a drop of 28 percent from November last year, the firm said.
It’s also the lowest number of foreclosure starts since they hit 72,163 in December 2006… (more)
EDITOR: The biggest failure of the Obama administration was a failure to come up with more effective measures to allow mortgages to be reset at lower rates and amounts so that people could remain in their own homes and lenders and the taxpayers were spared unnecessary losses. According to Sheila Baer, former director of the Federal Deposit Insurance Corporation, the Administration could have, but lacked the will.
