Today the final totals for foreclosures were released and there were over ONE MILLION foreclosures filed in 2010. What is even more alarming is that it is anticipated that there will be a higher number in 2011. It is also frightening to realize that I have noticed a trend in the banking industry - they are delaying filing foreclosures and are waiting longer an dlonger to foreclose!!! Therefore, there is even more homes in default than the foreclosure statistics indicate.
There are legitimate reasons for lender delay in filing foreclosure - allocation of resources, foreclosure defenses such as the "robo signer" fiasco, the recent decision by the Supreme Judicial Court in Massachusetts which ruled that banks must prove that they have standing to sue by proving that they have the original Note.
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