Don't you hate it when the truth gets in the way of the media spin?

Foreclosure filings across the U.S. nearly doubled last month compared with September 2006, as financially strapped homeowners already behind on mortgage payments defaulted on their loans or came closer to losing their homes to foreclosure, a real estate information company said Thursday.

A total of 223,538 foreclosure filings were reported in September, up from 112,210 in the same month a year ago, according to Irvine-based RealtyTrac Inc.

The number of filings in September was down 8 percent from August's 243,947, the firm said.

Despite the sequential decline, the September figure represents the second-highest total for filings in a single month since the company began tracking monthly filings two years ago.

"August was an extraordinarily high month for foreclosure activity, so some falloff was almost predictable," said Rick Sharga, RealtyTrac's vice president for marketing.

But the home mortgage crisis appears to be over, based upon all reports, and the decline in foreclosure activity is indicative of this. But since the template insists that the crisis still continues, that is how the wire services are going to report it -- by trying to discredit any signs of progress and recovery in the mortgage field.

Posted by: Greg at 10:57 PM | Comments (1) | Add Comment
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