Foreclosures soaring 57%
As I have repeatedly reported, Wall Street’s control over certain media outlets has consistently downplayed the number of foreclosures initiated against homeowners. We see far more articles saying foreclosures are low than anything warning about the flood that is happening.
At the same time, the real data shows spikes everywhere.
Wall Street has succeeded at lulling lawmakers and law enforcement into a sense of “no problem” on foreclosures. They have convinced nearly everyone that they have unpaid loan accounts on their books due from homeowners and that these are “loans” and that the “loans” are performing quite well.
There is no loan if there is no lender. There is no account due if there is no account. There is no loss if all the palyers have made more money than they ever imagined was possible.
It is all a lie —- a living lie. It won’t be corrected until homeowners realize that their biggest investment (their home) is under threat or is being stolen from them).
The myth of the “free house” if homeowners win is just that — a myth (i.e., a lie). Every homeowner has far more invested in the property than anyone who succeeds at taking it from them through false claims of accounts due and foreclosure.
Foreclosure activity year on year has shot up by 57%, with foreclosure starts increasing by a whopping 98%, according to a new report by real estate data firm, ATTOM.
The November 2022 US Foreclosure Market Report shows that a total of 30,677 properties had foreclosure filings last month – namely default notices, scheduled auctions or bank repossessions.
Across the country, one in every 4,580 properties had a foreclosure filing in November, while the states with the highest foreclosure rates were Illinois (one in every 2,401 housing units), followed by Delaware (2,736), and New Jersey (2,916).
Large metropolitan areas with the worst foreclosure rates included Cleveland along with Chicago (one in every 2,221 housing units); Riverside in California (2,294); and Philadelphia (2,539).
Lenders started the foreclosure process on 20,686 properties in November, and the states reporting the greatest number of starts were in California, Texas and Florida.
The foreclosure process normally starts when a borrower has received a default notice after missing four monthly mortgage payments in a row, although most lenders will reportedly send a notice of default when they are 90 days – or three months – past due.
California had 2,244 foreclosure starts, followed by Texas with 2,114 and Florida with 1,709.
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