Bank Repossessions Down In Washington DC

They are still on line to be the highest ever for a year. They will likely pass 2008’s total.

There’s been a gangpress to reduce foreclosures which are slashing home values around the nation. These efforts have stemmed the tide of foreclosures, which nationally have fallen for the past three months.

The Washington Post reports:

The decline likely reflects that banks have slowed down foreclosure activity to give borrowers more time to apply for loan modifications that could help them stay in their homes, according to RealtyTrac. The company runs an online database for foreclosures and says its information covers 90 percent of U.S. households.

In the District, the number of real estate-owned properties — when a bank has taken possession of a home and evicted the borrower — fell by half to 46 in October compared with 102 in September. In Maryland, bank repossessions fell to 786 from 865 the previous month. Virginia also saw a decrease in bank repossessions, 1,845 in October compared with 2,028 in September.

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (Alexander90210.com), he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Alexander90210.com. Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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