Foreclosures drop for 2nd month in February

Peacetrain

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Thu Mar-11-10 11:35 AM
Original message

Foreclosures drop for 2nd month in February

NEW YORK (Reuters) – U.S. mortgage foreclosure filings dropped for a second straight month in February, and notched the smallest annual increase in four years as housing-rescue efforts contained activity, a report released on Thursday showed.

Foreclosures are by far one of the biggest threats to the U.S. housing market, which remains highly vulnerable to setbacks and heavily reliant on government intervention. If foreclosures keep dropping, it will be one of the strongest signals yet the market is on the path to recovery.

http://news.yahoo.com/s/ap/20100311/ap_on_bi_ge/us_financial_overhaul

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Kdillard

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Thu Mar-11-10 12:48 PM
Response to Original message

1. Good news. It seems like things are turning around. Hopefully

Spring and summer bring more good news for economic stability.

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Peacetrain

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Thu Mar-11-10 12:50 PM
Response to Reply #1

2. It seems we are getting some good news to the people on the block

just not the corporations :hi:

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girl gone mad

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Thu Mar-11-10 01:46 PM
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3. Foreclosures, while painful..

are often the best solution. They relieve people of the burden of their underwater, overpriced home. Without cramdowns, attempts to keep people in unaffordable houses will only be temporarily effective, at best. Congress and the administration have rejected cramdown provisions.

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