Read the full story on the NPR.org website: http://www.npr.org/templates/story/story.php?storyId=129146629. Read an excerpt below:
“The default notices, the scheduled auctions — those are at least decreasing on a year-over-year basis,” says Celia Chen, who covers housing markets for Moody's Analytics.
“That means we're working through the problem,” Chen adds. “We're going to feel the pain for a little bit longer, but there is some light at the end of the tunnel.”
But others see things differently.
“We need to be quite cautious in breathing a sigh of relief,” says Marietta Rodriguez of NeighborWorks America, a housing counseling organization.
She says unemployment continues to be a problem, pushing homeowners over the edge. And there's a new crop of loans that will reset in the next year — making the payments harder to handle.
Read from Opportunity 1: Prevent Foreclosures about how philanthropy can help prevent foreclosures: http://www.impact.upenn.edu/wp-content/uploads/2015/03/UPenn_CHIP_DownturnOpp1_Nov09-PreventForeclosures.pdf