November Foreclosures

Nationally, default notices were down 8 percent from October but still up 22 percent from a year ago.

Scheduled foreclosure auctions were down 12 percent from a month earlier but up 32 percent from a year ago.

Foreclosure filings were reported on 306,627 properties last month, down nearly 8 percent from October but up 18 percent from a year ago.

One in every 417 U.S. households received a notice.

James J. Saccacio, RealtyTrac’s CEO, in a statement.

“Loan modifications and other foreclosure prevention efforts, along with the recently extended and expanded homebuyer tax credit...

are keeping a lid on the most visible symptoms of the nation’s ailing housing market - foreclosures and home value depreciation.”

He described it as a welcome respite for the real estate industry, but said...

a full recovery will only come when the unemployment improves and credit becomes more available.

The Nattering One muses... Remember, we warned...

No relief on unemployment today as Non Farms Job Report showed another 474,000 jobs lost in November.

Unemployment, foreclosure and home value depreciation bottom? Again, NO WHERE IN SIGHT. Anyone saying different: a fool, a liar or both.