This is not the best foreclosure news to share, but there’s hope.
“Starts in foreclosure proceedings ticked up for the first time in more than two years, according to housing data firm RealtyTrac, as government-sponsored loan modifications began readjusting their interest rates earlier this year and as some lenders are beginning to lend to higher-risk borrowers.
A total of about 56,000 U.S. properties started the foreclosure process in November, RealtyTrac reported as part of a monthly analysis of U.S. foreclosure activity. It was a decrease of 1% from October 2014, but a 6% increase from a year ago, the first increase in 27 months of otherwise declining foreclosure activity.”
With these new statistics, things are looking a little bleak. However, the Treasury Department is working on some real reconstruction in this area. Daniel Goldstein from Realtor.com has the facts: