Foreclosures and your Attorney

If you are facing a foreclosure, call your Attorney.  It may help to at least stall for time.  Otherwise, the crash is on, particularly for you... from geezer land:

Statistics elsewhere in the country are equally dramatic. The Philadelphia Business Journal reported Sept. 11 that foreclosure starts in New Jersey had skyrocketed in August, increasing by 115% year-on-year; scheduled foreclosure auctions increased by 71% compared to a year ago, to the highest level since July 2010. In Maryland, August foreclosures increased by 20% year-on-year. According to RealtyTrac, the state’s August foreclosures were up 71% from July, and at that point, Maryland had experienced two straight years of rising foreclosures.
In Colorado, foreclosure auctions were up by a whopping 160%, and in Oregon, they increased by 117%.
Against this backdrop, a Sept. 9 article in The New York Times is revealing. Under the headline, “Are Subprime Mortgages Coming Back?” author Binyamin Appelbaum suggests that “it might be time for the revival of the subprime-lending industry” by loosening standards on mortgage lending, which he claims are now excessively strict, and hurting the overall economy. After all, he says, long before these risky loans were blamed for helping to usher in the 2008 financial crisis, they were “embraced as a promising antidote to the excessive caution of mainstream lenders.”