Foreclosures have slowed during the holiday season because some lenders are feeling generous – not kicking people out of their homes during these winter holidays.
Yes that’s right, not only are the government agencies doing it, but several of the bigger mortgage companies are acting on Santa Claus fantasies again this year. They are saying that they will not follow through and evict borrowers that are in default, but just for the holidays.
Other foreclosures have stopped pending review of their process and the legality.
Robo-signing…that’s when bank employees allegedly signed documents without proper verification in states that process foreclosures through the court system. California isn’t one of those states. But RealtyTrac’s Daren Blomquist says the state still benefited.
However, some foreclosures are slowing because of court-ordered appearances.
Six lenders who have combined to file nearly 30,000 foreclosure actions in New Jersey this year face the possible suspension of their operations next month under a court order announced Monday by state Supreme Court Chief Justice Stuart Rabner.
In the end, people will lose their homes if they don’t pay their mortgage, but it’s still good to see that some rabid foreclosures have slowed in favor of doing real research on whether a home is truly behind.
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