livinglies.wordpress.com | February 23, 2017
By Neil Garfield
Below is another “fake news” report from your friendly St. Louis Federal Reserve. The Foreclosure Crisis isn’t even close to being resolved. Pensions are failing, houses are being foreclosed with fake documents and housing prices have reached unaffordable levels while wages remain flat. This isn’t even close to being the end of the crisis. Until the real issues are resolved America cannot recover.
Fed Reserve PDF
The St. Louis Federal Reserve Bank study,“The End Is in Sight for the U.S. Foreclosure Crisis” states:
The Foreclosure Crisis at a National Level
Mortgage Bankers Association data show that the U.S. foreclosure crisis started in the fourth quarter of 2007, when the combined rate reached 2.81 percent, a level that exceeded its five-year moving average by 0.67 percentage points, more than any other previous level. Given that the combined rate stood at 3.2 percent in the third quarter of 2016, this suggests that the nationwide foreclosure crisis has not yet quite ended. However, based on the rate of decline in recent quarters, the data-defined end of the crisis on a national scale is likely to occur as soon as the first quarter of 2017. (See Table 1.) Indeed, comparable data from Lender Processing Services, as shown in the recently released Housing Market Conditions report from the St. Louis Fed, also suggest the foreclosure crisis is nearing its end.
The Foreclosure Crisis in the St. Louis Fed’s Eighth District
Figure 1 displays the share of mortgages that are seriously delinquent or in foreclosure in all seven Eighth District states for the period 1980 through 2016. To determine the duration of state-level foreclosure crises, we examine two thresholds: a nationwide benchmark and a threshold unique to each state.3
Table 1 provides beginning and ending dates for the foreclosure crisis nationwide and for Eighth District states using the nationwide benchmark.
That study, by William Emmons, was dated December 2016, and it predicted that the trendline nationally was that the “end of the crisis on a national scale is likely to occur as soon as the first quarter of 2017. (See Table 1.)”; so, one can reasonably assume that the end of the cause of the ‘recession’ of 2008-2009, is finally being reached, just about now.
However, unfortunately, after mortgage-debt having soared to unprecedented heights right before the 2008 crash, it has remained overall (irrespective of foreclosures) rather stable at or near that peak, and has been slightly rising again since 2013:
Back to February 2017 Archive
CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel ideaï¿½it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).
SEE BELOW- http://www.certifiedforensicloanauditors.com
Call us toll free at 888-758-2352