Diana Olick: Foreclosure "Pig In The Python Is Showing Its Face"

Diana Olick

From Diana Olick at CNBC: Foreclosures Are Rising

Yes, banks are ramping up loan modifications and ramping up short sales and ramping up deeds in lieu of foreclosure, but the plain fact is that as the systems are oiled, the loans are moving through faster, and the pig in the python is showing its face.

We won’t get the [foreclosure] numbers until next week, but sources tell me they will likely be a new monthly record.

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