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Monday, May 4, 2009
Foreclosures Increase as Banks Start to End Voluntary Foreclosure Abatements
According to this Ritholtz.com article, Voluntary Foreclosure Abatements Ending, banks are starting to end their volunatry foreclosure abatements due to the increasing number of delinquent loans piling up. This is after the banks have changed the definition of a delinquent loan from 60 days to 120 days and even 180 days. Per my previous post, the banks are trying to make things appear better than they are. Mark my words, it will fail.