21.7 Percent Fewer Foreclosure Notices Were Filed In 2011
21.7 percent fewer foreclosure notices were filed in 2011 than the previous year. Realty/Trac reported Thursday the 21.7 figure and that put us 3rd highest foreclosure rate in the country. In the nation there was a 34 percent drop in 2011 from the prior year.
A lot of this could be because of the problems the banks have in the way the processed foreclosures. The pace will increase during the coming year if that was the problem.
In California one in 32 homes are being foreclosed in California. The message is really that people cannot afford their homes without jobs or well paying jobs. The under employed and the out of work are not going to keep or purchase homes.