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The Last Gasps of the Foreclosure Era

Posted by Chris Mehr on November 15, 2014
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In a recent article posted by MarketWatch the headline states that foreclosure filings rose 15% in October, something that would initially seem to be an alarming trend.  In fact, this might be the last time we see a double digit foreclosure rate in any week, month, or even year FOREVER!  The fact of the matter is, the US real estate market is continuing to strengthen, and as it does lenders are finally getting around to clearing out old inventory for mortgages that are in default.  As new buyers continue to make payments on time with interest rates at all time lows, lenders are ready to clean up their books and position themselves for the ever growing market of homebuyers.  This means that very soon foreclosure rates will be back near historical averages, and more than likely will continue to dip well below that as buyers continue to get great rates and more affordable mortgages!

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