Page 4 - Foreclosure Numbers News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Inevitable and the inevitable being a short sale, or a foreclosure. >> those are the real estate business say the evidence shows the banks are right now just working through a large backlog of foreclosures, which is why we saw the numbers change. we could see a spike in foreclosure numbers once again. according to a joint report released this week by the office of the comptroller of the currency and the office of thrift supervision, the redefault rate of loans modified in the first quarter of 2009 was 51.5%. >> last year we saw the number of households receiving a foreclosure notice jump from ...

A year ago. they say it's the first time in more than four years the numbers went down compared to the previous year, but the long term projections are grim. now more on that story. >> it's good to see foreclosure numbers go down especially after the last few years. real estate experts this good news have a bit of a bite on the back end. they say the april numbers show the 9% drop has happened because banks are work go through a large backlog of foreclosures. once they get through the paperwork, the numbers are reported foreclosures could, once again, rise. >> it's like the analogy of a pig in...

Estate business is that banks are working through a large backlog and we could see a spike of foreclosure numbers soon. according to a report released this week by the office of controller, the re-default loans modified in first quarter, 51.5%. >> last year we saw the number zbrunl to 2.8 million. we're forecasting 3.1, to 3.2 million receiving a foreclosure notice which would set another record. it's likely we will exceed that again in 2011. >> you mentioned that static, more than half of borders that hold on to their properties average will default again within one year. >> gregg: all right....

Part it's what's happening, the problem is working its way through the system. the housing bust going on three years at this point. a lot of people have already lost their home. at some point it's going to work itself out. it's taking longer than we want and meanwhile what's happening in housing is severely affecting the rest of the economy. it's really slowing down the recovery we're supposedly in right now. >> because of the foreclosures, that the housing market couldn't stand on its own without some sort of -- >> we're finding that out right about now, because the government is sort of back...

Station don't want to give too much away, for all we know the suspect could be inside watching tv but reports of maybe three children, i had seen a report this was a robbery suspect. we have not confirmed that yet. that's the latest we have down here. >> reporter: the reporter reporting we've done or gathering we've done on the story, tim, we definitely want to check with our affiliate, they're definitely to communicate with who was in the house, the armed objectry suspect, but you're right, our chopper can't sit on top of that swat movement because police officers tell us we don't want everyo...