The Foreclosure Morass Continues

Foreclosure filings increased 7% in October from the prior month, but were down 31% compared to the year ago, according to new figures from RealtyTrac. It's hard to tell if this is good news or not. We continue to hear stories about certain megabanks that are gun shy on foreclosures because of the pending robosigning settlement. (We're told a deal will be announced in the next few weeks, but may not include two states.) One attorney told us that he has a client who is late 32 months with his bank, and that some of his clients in foreclosure don't even have a foreclosure listing or sale date. Meanwhile, the Christmas holiday is approaching and no one wants to foreclose then, at least no one with a heart. As for REO sales, Fannie Mae is now selling more units per quarter than it is taking in. So, maybe the tide has turned…