[quote=jpinpb]To be fair, I’ve been hearing about people not making payments and not even getting any NODs for many months, so that could account for the low NODs. The banks aren’t even bothering to file NODs.[/quote]
But it wouldn’t affect the month over month numbers. If someone didn’t pay all year and didn’t get a nod all year, that wouldn’t explain a drop in nods or nots in the last two months. There are a few bits of info in the recorders numbers. nods/nots started rising this time last year and have been declining recently. I wish it wasn’t so late and I didn’t have to go to bed, I just figured out a whole bunch of things I want to look up, not sure where to even get the data. maybe someone else can figure it out. I’d love to see a graph of the county recorders numbers (not realty tracs crap), maybe a one year or a two year graph, showing nods, nots and nots that went through to either the bank or an investor. Then plot the number of short sales that have gone through in one color and loan mods in another color. Then pinpoint significant events such as state and federal moratoriums and foreclosure rule changes and maybe a few of the larger lender takeovers. I know it’s a tall order, but just in case Rich or someone else is bored, it may answer the giant question “where are we in the cycle” and my personal question “are short sales and reo sales churning through the distress.”
Industry public relations people and gov’t hacks will tell you it’s all over and values will start rising on one hand, while obscure websites and whackjobs will tell you we are all going to be growing food in the backyard using gold as our currency on the other hand. The truth is somewhere in the middle, where exactly is up for debate, but it would be nice to see all of the data on one graph.
