I just read the best news I have heard in months about foreclosures here in Arizona. I am so excited that I had to write about this news. Foreclosures actually went down 17% from October numbers. Only 3,826 homes were foreclosed on in November. Estimates for December are also looking good, as the number of notice of trustee sales, or pre-foreclosures, fell 23% down to only 6,509.
Over the past couple of months, several big lenders have announced programs to work with struggling borrowers, and Fannie Mae and Freddie Mac have halted foreclosures during the holidays. They also plan to begin lowering interest rates and payments on some loans.
Let me hear some more good news from other areas of the country!
Comments(5)