ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 07/27/2011 EVENING EDITION

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 07/27/2011 EVENING EDITION

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 07/27/2011 list has been posted.

http://bhammls.net/BAARReports/ListitLib/show_report.aspx?ID=7016170392

These are Single Family Homes ‘Active’ on the Birmingham MLS. These homes

are ripe for the picking. Don’t Let them pass you by. ACT NOW!!

I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.

Foreclosure filings fell dramatically during the first half of the year as processing delays at the banks, which are strapped with excess inventory of repossessed homes, continued to skew the numbers — and falsely raise hopes that the housing market is staging a recovery.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

Foreclosure filings plunged 29% compared with the same period a year ago and were down 25% from the last six months of 2010, according to the latest report from RealtyTrac, an online marketer of foreclosed properties.

Through June 30, 1.2 million U.S. homeowners — or one in every 111 households — received a foreclosure filing, according to RealtyTrac.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

The deceleration in defaults continued as the year wore on with second quarter filings — at 608,235 households — marking the lowest quarterly total since the end of 2007, when the mortgage meltdown was still in its youth.

RealtyTrac’s CEO, James Saccacio, sounded a sour note, however, contending that the drop-off in filings can be traced not to economic improvement or a pick-up in the housing market, but to processing delays brought on by the robo-signing scandal in which it was discovered that bank employees were signing foreclosure documents without following proper protocols.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN YOUR AREA

“[That’s what is] pushing foreclosures further and further out — we estimate that as many as 1 million foreclosure actions that should have taken place in 2011 will now happen in 2012, or perhaps even later,” Saccacio said.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

“This casts an ominous shadow over the housing market where recovery is unlikely to happen until the current and forthcoming inventory of distressed properties can be whittled down to a manageable number,” said Saccacio.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN YOUR AREA

In the past, banks acted rapidly, often sending out notice of default a few weeks after not receiving a check. These days, they wait much longer, according to Rick Sharga, a spokesman for RealtyTrac.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN YOUR AREA

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 07/27/2011 EVENING EDITION

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