What is the Deal with the Foreclosure Freeze?
Reasons why major banks are halting foreclosure sales and proceedings
Posted on November 19, 2010 by Matt.
If you turn on the news or open a newspaper or news website, you have probably seen or heard ample amounts of reporting time spent on discussing the recent trends by select major banks that are halting foreclosure sales and proceedings due to shoddy paperwork and some kinks in the foreclosure process. A recent article on CNN Money, "Freezing foreclosures? What does that mean?", gives some valuable insight into why this is occurring and who it affects. While this article is good for people currently in the foreclosure process or looking for cheaper homes to purchase, these developments affect the entire housing market. For those who are curious about the causes and ramifications of the foreclosure freeze, this article is a good read.
If you have further questions about San Clemente foreclosures or the San Clemente real estate market in general, please contact us.