Mortgage Default Information

Elizabeth Duke: 4 Million More Foreclosure Actions for 2011 and 2012

SeekingAlpha |

In Brief...

On Thursday November 18 Federal Reserve Governor Elizabeth A. Duke will predict that there will be four million addition foreclosure filings in 2011 and 2012, equally divided between the two years. The numbers that Duke will present are less than the number of filings reported by other sources, but more than the number of foreclosures completed (home repossession or REO). Duke will go on to give a complete review of the foreclosure process and the difficulties that need to be sorted out. The Duke testimony is as direct, pointed and precisely factual (excepting my failure to determine exactly how she is counting foreclosures) as I have seen from a high ranking Fed official or a top government figure. If that is accomplished, the discussion from Elizabeth Duke should be well worth hearing..

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