Good News on the Foreclosed Homes Front

According to information reported by Realty Trac, the number of foreclosure filings for January 2009 is down 10% from December 2008. Does this mean that the efforts of lenders and of the government are working? Maybe yes and maybe no. Time will tell. If the downward trend continues, there may be hope that the efforts so far have at least stopped the bleeding. But more needs to be done. Just stopping the bleeding is not enough.

Developing a plan to figure out how to get rid of all of the foreclosed homes already on the market needs to be a priority and needs to be one sooner rather than later. And not everyone who wants to and who can has been able to get their home out of foreclosure. While banks have been better about working with homeowners, they still have a ways to go. Personally, I think that the banks need to or maybe should even be forced to look at their foreclosure policies and how they work with homeowners. In my own foreclosure, lies, half truths and deceit was abundant. Honest help was often difficult and sometimes impossible to get.