Foreclosures fraud increasing.

Should read 'foreclosures increase 44%' and well as 'flopping'

both on bloomberg today. :)

Can we get a relative target date for said capitulation?

June 15th, 2:55 pm 15 sec est 2011.

Awesome, thanks.

I am shocked by the number of short sales that have been on the books for years in Miami. Banks don't move because they are still propped up by govt regs but also because the courts are so clogged, the legal process can take a very long time.

I think your capitulation date might be very prescient W67. Since interest loans of new developers will come due for many in 2011, banks might want to get ahead of the curve in NYC with their foreclosures. You would think banks would want to get foreclosures through the system before capitulation prices arrive in large developments.

Apt23. What's sad is that 'potential' buyers should be demanding that banks come clean with all the impaired assets on their books, but as a matter of national policy we are allowing forbearance after forbearance and pretending a loan extension is 'income' on the banks books and using those fictitious profit to pay 'bonuses' to bankers.

When is all this nonsense gonna stop, who does it help?