Foreclosures down in some states; short sales up.

[No Elephants]

Jan 17, 12:28 AM EST

Fewer US homes repossessed by banks in 2012

By ALEX VEIGA


LOS ANGELES (AP) -- Lenders took possession of fewer U.S. homes in 2012 than a year earlier, as the pace of new homes entering the path to foreclosure slowed and banks increasingly opted to allow troubled borrowers to sell their homes for less than what they owed on their mortgage.

All told, banks repossessed 671,251 homes last year, down nearly 17 percent from 804,423 the year before, according to data released Thursday by foreclosure listing firm RealtyTrac Inc.

The trend, along with an annual decline in overall foreclosure activity, suggests that the country's foreclosure woes are easing, at least on a national level.

But half the states experienced higher levels of foreclosure activity last year and many are expected to continue seeing increases this year, RealtyTrac said.

http://hosted.ap.org/dynamic/stories/U/US_FORECLOSURE_RATES?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-01-17-00-28-24

[Enthusiast]

1. Dead beats.

I kid.

I feel for these people.

[No Elephants]

2. They are not only "walking away from debt" (with the consent of the lender), but

they are also walking away from their down payment, all the payments they've made over the years, whatever money they sunk into repairs, the friends they and their kids have made in the neighborhood, their kids' school district, the security they thought they bought when they bought their home, etc.

I hate the way the frickin' media makes it sound.

[Enthusiast]

3. "I hate the way the frickin' media makes it sound."

Me too.