2012 Real Estate Predictions / 2012,The Year Of The REO

1 Million Foreclosures Delayed Until 2012 An estimated 1 million foreclosure-related notices for defaults,auctions,and home repossessions that should be filed by lenders this year will be pushed back until next year,according to the latest report by RealtyTrac.

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Foreclosure Delays Stretch Imagination

Over the past month we noticed that Bank of America has been resuming foreclosures on loans originated by Countrywide. As you may recall in October BofA voluntarily imposed a foreclosure moratorium following the robo-signing scandal. We actually expected an increase in activity as lenders began to catch up after these delays and were instead surprised to see foreclosure activity drop in April.

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