Home Foreclosures Rose in January

 Despite claims that the economy is improving, new signs point to a stalled recovery. First was the unemployment numbers, which added less than 40,000 new jobs to the labor pool. Now it has become apparent that the housing market is not improving.

In fact, it is getting worse.

Bank seizures at states with non-judicial foreclosure processes jumped 23 percent, while states with a judicial process saw a decrease of 7 percent.

"It suggests the system is still frozen up. We should have seen a much larger increase in both overall activity and bank repossession," said Rick Sharga, senior vice president at RealtyTrac.

"The numbers will inevitably go up, it's just a question of will it be sooner or will it be later."

 We'll have to keep waiting for that 'recovery summer.'

Please bookmark!