Lesser No Of Homes Have Been Repossessed In Comparison To No Of Court Matters


There is increase in action of court for repossession. Department of Constitutional affairs stated that more than 25,000 repossession applications were made in four months. The number of homeowners who entered into some stage of foreclosure in December 2006 was up 35 percent from December 2005 after a slight decrease in foreclosures in the late summer and fall of 2006. At the same time, states all around the coun­try are reporting an increase in foreclosures, with some states reporting as much as a 700 percent increase in 2006 over 2005.More than 32,000 orders have been made and less than 5000 homes have been repossessed. Generally lenders go to court for disciplined payment rather than repossession.