CNN Reports a 'rising tide' of foreclosures ahead

Education & Training with Browning Real Estate School/REO Institute

REO, CNN just confirmed what the REO Institute has saying for the 60 days. Today they reported that Bank of America, Wells Fargo, Citibank, Chase and Ally Financial all expect a rise in foreclosures after a dip in February due to delays in foreclosure proceedings, adding that "the foreclosure pipeline was beginning to unclog" and they expect "a climb in the number of homes repossessed". (Source: CNN Money)!

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James A. Browning MRE, CIPS, CDEI, REOCertified®, CEC, BPOR, ShortSaleCertified®, SFR

NAR, ABR, REBAC, CAR, CREOBA, REO Institute, National Speaker/Educator

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Chandler Real Estate Liz Harris, MBA
Liz Harris Realty - Chandler, AZ

Never good news when we hear about a "rising tide" of foreclosures... I don't believe that this is true for all states, however.

Mar 19, 2012 02:53 PM #1
James A. Browning
Browning Real Estate School/REO Institute - International, IT
MRE REOCertified(R) SSCertified

I do believe that certain states will increase alot?? AZ. FL, NV for example!!

Mar 19, 2012 03:28 PM #2
Susan Goulding
Crown Key Realty, Tracy & Mountain House Real Estate - Tracy, CA
Northern CA - Tracy & Mountain House Real Estate

Nevada still has a moritorium... NO NEW FORECLOSURES _ state law... anyone from Nevada know if this has changed.

Mar 19, 2012 03:44 PM #3
Jim Hale
Eugene Oregon's Best Home Search Website

It is hard to tell just how much of the shadow inventory will come on line now that the banks are getting a virtual "get out of jail free" card on the electronic signing system fiasco.

They should have to pay the counties through the nose.

Mar 19, 2012 04:23 PM #4
Phil Leng
Retired - Kirkland, WA
Phil Leng - Retired

I have been hearing the same thing.

The GSEs have all launched a flood of foreclosures the last two years.

Now FNMA in our area has the lowest amount of foreclosures for sale in the last 2 years.

Now, I understand, the large banks are going to let their back log go.


Mar 19, 2012 05:55 PM #5
Mark Antonowsky
Coldwell Banker Residential Brokerage - Scottsdale, AZ
Associate Broker

I think the REO institute is trying to beat a dead horse.... The real estate recovery in Arizona HAS BEGUN! Maricopa County Notice of Trustee Sale are at a 5 year low! See this graph via!


Mar 20, 2012 12:45 AM #6
Kenneth Pettingill


It’s part of the plan that Fannie/Freddie/Fed Reserve & Goldman want.  It's called the billionaires club. These 20 or so super hedge funds will buy direct from the Government the wave of defaults.  Regular Americans will not so much.  These investors get to buy at .45 on the dollar in huge pools, book at FMV and wow...what a great profit subsidized by the American taxpayer!  Oh, did I mention FOREIGN investors are also part of this club????

Real Estate is still very much broken and unscrupulous from the top all the way down the ladder. 

Mar 20, 2012 01:01 AM #7
Cindy Grossman
Realty Executives, Valley Properties - Chatsworth, CA

 I'm out here in So. Cal. working everyday with homeowners we are seeing more and more looking 
at short sales. Now it would be great if all the lenders would make the process smoother so we don't have an even bigger backlog that then leads to foreclosures, empty houses, neglected pools and property and even lower property values!

Mar 22, 2012 03:21 AM #8
James A. Browning
Browning Real Estate School/REO Institute - International, IT
MRE REOCertified(R) SSCertified

Short sales will be increasing, don't you like th one point of contact for the Short Sale Transaction??

Mar 22, 2012 03:41 AM #9
James A. Browning
Browning Real Estate School/REO Institute - International, IT
MRE REOCertified(R) SSCertified

Mark Antonowsky (Keller Williams Integrity First Realty) Hello Mark, I did not write the CCN/Money report!! Do not shot the messenger! I have been though 3 distressed markets, do not be so SURE that AZ is out of the woods completely???

Mar 25, 2012 09:34 AM #10
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