Saturday, December 18, 2010

More foreclosures, home-price drops on tap in 2011 Amy Hoak's Home Economics - MarketWatch

More foreclosures, home-price drops on tap in 2011 Amy Hoak's Home Economics - MarketWatch: "ontinued high unemployment is also expected to exacerbate the foreclosure problem in the year ahead, as will upcoming interest-rate resets on adjustable-rate mortgages that will increase monthly payments for some homeowners, Sharga said.

Also, U.S. Treasury Department data indicates that fewer borrowers have been approved for permanent modifications in recent months, said Greg Hebner, chief executive of MOS Group, a loss-mitigation service provider to mortgage lenders and servicers.

What’s more, there’s a growing sense that modifying mortgages doesn’t get to the heart of the housing crisis. “There is the perception that the answer to th"

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