Foreclosures made up 31 pct. of home sales in 2Q - Yahoo! Finance
The share of the market would likely have been larger this spring if not for a state and federal investigation into faulty paperwork by banks and servicers. The probe has led many banks to delay foreclosure sales. Once that is complete, foreclosures will likely surge later this year.
I guess the real policy we are adopting de facto is just to bail out the banksters and let people lose their homes. All this talk about helping out the owners seems like empty rhetoric.