Can the Government Stem the Flood of Foreclosures?

February 19, 2009
The new plan announced yesterday is aimed at the underwater homeowners. Thus far, the previous programs have been deemed to be relatively ineffective. Will more money and more incentives reduce the problem?
I am collecting the data to track the foreclosures in the 14 communities that I have been following for their real estate activity. Tomorrow, I hope to post the numbers for Notice of Default filings, Notice of Trustee Sale filings and the properties that are now owned by lenders. Just as I have tracked the monthly data for listings and sales, I plan to list the number of filings each month. Perhaps the data will indicate that foreclosures are being reduced - maybe through the government's efforts and maybe because they are sold prior to foreclosure procedures being begun.
Tune in tomorrow.