Update from the Foreclosure-Based Economy, On the One Hand on the Other Hand Dept. 0
The Chicago Trib reports that indicators for jobs for process servers and robosigners continue strong:
That increase signals banks are moving more aggressively now against borrowers who have fallen behind on their mortgage payments than they have since industrywide foreclosure processing problems emerged last fall. Those problems resulted in a sharp drop in foreclosure activity this year.
Bloomberg, on the other hand, reacts to the same press release differently.
A total of 610,337 properties received notices of default, auction or repossession, down from 930,437 a year earlier and up from 608,235 in the second quarter, the Irvine, California-based data seller said today in a report. One in every 213 U.S. households got a filing.
I think the two organizations are looking at different sets of numbers: “initial notices of default” vs. final notices of default and actual foreclosure actions, but it is difficult to tell from the relatively short stories.
