The foreclosure wave is still out at sea.
For months, housing pundits have warned that banks were likely to jumpstart the foreclosure process after finalizing their $25 billion settlement with the federal government and 49 state attorneys general.
But so far, there’s little indication of a lift in foreclosures. The number of newly initiated foreclosures actually fell in February from January and from one year ago by around 15%, according to Lender Processing Services. That marks the 11th straight month in which the level of foreclosure “starts” has fallen versus the same month in the previous year.
Read more: http://blogs.wsj.com/developments/2012/04/03/foreclosure-starts-fall-in-february/