cochranundv's soup

How to rescue the housing market: Foreclosures!

visit our website style='float:left;padding:5px' /> The competition for homes has frustrated buyers, forcing some to extend their searches for weeks or months and depleting the supply of properties. Broward County had 4,440 homes for sale at the end of August, down 6 percent from a year ago. But more sellers are jumping into the market.
For the original version including any supplementary images or video, visit http://www.sun-sentinel.com/business/fl-august-home-prices-20130920-7,0,370292.story

The case against foreclosure Of course, not everyone agrees that pushing people through the foreclosure process is the best solution to the housing crisis. David Min, associate director for financial markets policy at the Center for American Progress, argues that there are many homeowners who can be saved if their payments can be adjusted to affordable levels or if some of their principal is forgiven. This particularly applies to those who are only a few months behind. Foreclosure is very costly for servicers, homeowners and neighborhoods, he said. "There are a lot of other options that make more sense" than foreclosure, Min said. "It's just so destructive to value.
For the original version including any supplementary images or video, visit http://money.cnn.com/2011/08/31/real_estate/housing_market_foreclosures/index.htm