Foreclosures Decline in January but Surge Expected

Realtytrac announced today that foreclosure filing dropped in January from December's numbers but is still 15% higher than a year ago.

Over the next months banks are expected to aggressively foreclosure on delinquent loans, where loan modifications, short sales and deed in lieu options no longer work. Beginning in February many of the trial modifications will expire and as of now over 50% of these modifications didn't work out.

Although the foreclosures have not hit the market for resale, short sales have increased. This is due to no inventories in so many markets, a direct result of both the banks and the government trying to stabilize the housing market.

Nothing that the President, Congress or the Banking Sector is doing has stopped the rise of theses distressed properties. All aspects of the housing section is still getting worse not better.
More of the same talk and no action. Where are the lender regulation changes, where are the jobs, where is the common sense? Couldn't they at least start with one of these requests?