“Its time to pull the band age off Americas foreclosure problem. The economy is ready to emerge from its recent dark period, but to make it happen soon we need to speed the resolution of millions of troubled home loans. Six years have passed since the crisis began, yet instead of accelerating, foreclosures have slowed. Until now this has been fortuitous. Time was needed to make sure strugglinghomeowners were treated properly, and to let the financial system digest its losses and the housing market absorb the flood of repossessions and short sales. But these objectives have been met, more or less. It is time to move on. House prices wont rise and the economy wont fully engage until more distresses properties are resolved and put back into ordinary use.”
Related graphic – “Housing still in distress – Although the number of loans in delinquency or foreclosure in the United States has declined from the 2009 peak, there are still 3.6 million loans in trouble in the first quarter of 2012.”
Sabrina is the also the solo Editor/Publisher and Founder of LLRX.com® – Legal, technology and knowledge discovery resources on the “moving edge” for Librarians, Lawyers, Researchers, Academic and Public Interest Communities – launched in 1996.