Nice pair of statements from RealtyTrac… Most homeowners who enter the foreclosure process do not lose their homes, said Rick Sharga, vice president for marketing at RealtyTrac.
“Of the properties that enter our database as initial notice of default, only 40 percent of them actually go to the auction,” Sharga said in an interview
That puts some perspective on just how motivated the sellers with NODs need to be. Given recent numbers, we already at looking at 15% or more of the monthhly sales being foreclosures.
