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Underwater Homeowners “Here To Stay” Zillow Says | Zero Hedge

A few weeks back we commented on the rather disturbing news that repeat foreclosures jumped in January:

“According to Black Knight Financial, both new and repeat foreclosures hit a 12-month high during the first month of the year with repeats (i.e. the borrower was rescued but has since entered the foreclosure process again) jumping 11% M/M. More troubling is the trend in repeat foreclosures which accounted for only 15% of total foreclosures during the crisis but now make up a startling 51%.”

Here’s what the trend looks like:

via Underwater Homeowners “Here To Stay” Zillow Says | Zero Hedge.

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