News Headline Doublespeak

May 13, 2010 at 08:47 (Uncategorized)

This is just stupid. This plainly says only that the banks haven’t filed as many as usual and not that things are better. Just because they haven’t filed on the millions that could be filed on doesn’t mean anything more than that have maxed out on what they can handle at once.

WASHINGTON (AP) — Millions of Americans are still likely to lose their homes in the coming years, but the foreclosure crisis is finally showing signs of subsiding.

The number of households facing foreclosure in April fell 2 percent from a year ago, the first annual decline in five years, RealtyTrac Inc. said Thursday.

But the data aren’t all sunny. While the number of new delinquencies is dropping, the number of borrowers losing their homes is still rising. Banks seized a record 92,000 homes last month.

And there are millions more potential foreclosures ahead. Nearly 7.4 million borrowers, or 12 percent of all households with a mortgage, had missed at least one month of payments or were in foreclosure as of March, according to Lender Processing Services Inc., a mortgage data research firm.

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