On December 5, the Michigan Community Development Association (MCDA) held its winter conference. The conference agenda was dedicated to the foreclosure situation, a critical issue for our citizens that many if not most of you are dealing with in some manner with your clients and customers. The attached conference handouts include some very helpful information which I am sharing with you.
Foreclosure Activity Up 30% in Third Quarter - RealtyTrac 12/13/07
A total of 635,159 foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 446,726 properties nationwide during the third quarter of 2007, a 30 percent increase from the previous quarter and an increase of nearly 100 percent from the third quarter of 2006, according to the RealtyTrac U.S. Foreclosure Market Report. “August and September were the two highest monthly foreclosure filing totals we’ve seen since we began issuing our report in January 2005,” said James J. Saccacio, chief executive officer of RealtyTrac. VIEW FULL STORY
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