Daisy you nailed it! Very good explanation. As you see due to the rotation of NODs it may be best to try to simply capture months ya know what I mean? Like how many NODs were reported in Jan of 07, Feb of 07 etc… Either way it is hard posting on going stats so my hat is off to you for doing so. I tried to do that for active/pendings as well as NODs/NOTs/REOs but it just go to burdensome.
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Yeah it is amazing how late in the process a people can cure the defaults. Some people go into default, then cure it, then go in again…
No there is no chance that the bank can make a property mysteriously disappear off the books. If a property makes it to auction, then it either sells or becomes REO no middle ground. (at least that I know of which is not much)
Anyways typically the REOs will be alot lower the NODs due to cures… Now how much of the default is “cured” is an interesting question. I just wonder as things deteriorate how much these lenders will let people stretch…
