The Reed Report

Addendum 1
This from Nomi Prins work titled It Takes A Pillage (http://www.nomiprins.com/)
Pg. 106. 1st Paragraph: During the summer of 2008, despite the whole Bear Sterns maneuver,
the home mortgage market was coming apart at its foundation. Foreclosure rates nationwide were up
55 percent in August 2008, compared to July 2007, and for the year there were more than 3 million
foreclosure filings, an 81 percent increase from 2007.
She adds here a footnote #27: RealtyTrac, Foreclosure Activity Increases 81 Percent in 2008,
press release, January 15, 2009,
http://www.realtytrac.com/ContentManagement/pressrelease.aspx?ChannelID=9$ItemID=5681.

Original Article
https://www.facebook.com/john.reed.37201

1st Edition

Nov. 18th, 2013

So many articles, so many stories pass my desk every day. Within a lot of those
the news articles and stories there are references alleging and/or alluding to the
amount, or number of foreclosures that have been happening throughout the
United States over the last few years. Within these articles I have noticed
something the News Folks cant seem to get the numbers the same!
So I decided this morning to go out on the Net and see just actually might be
a true picture as to how many foreclosures have taken place since 2008.
Now its not that I mistrust Corporate WORLD (CorpW), but then again after
being involved in this crisis for these last 6+ years, reading hundreds of articles and
stories about the Wall Street fraud, the forging of documents, hell even the taking of
houses that never even had mortgages on them, what Ive seen can give me only
really 1 conclusion that CorpW is not to be trusted AND that means the major data
centers, owned by CorpW cant be fully trusted either.
Realizing this going in, I thought I would just Google foreclosure rates 2008
for my first set of reference numbers, and then just change the year each of my next
consecutive sets of numbers. Ive listed all my sources and their respective web site
addresses below if youd like to check for yourself. In the words of Ronald Reagan (I
was never enamored with the guy but I liked his sentiment when he said) Trust but
verify!
I found, in most years, 3 samples to use. My methodology was to take the
number represented in each article1, add them to the other numbers gleaned from
other articles for that same year and then divide that total by the number of articles
1 In those articles that only represented a % different than previous years I created a spreadsheet and
did the math.

that I had used in order to get an average of represented foreclosure filings for the
year.
Again, which numbers are true and which arent I am in no position to say. But
finding averages this way, I believe will give us all an idea of at least what were
being told by CorpWs media division!
My results:
2008 3,085,935
2009 3,560,772
2010 3,586,744
2011 2,588,739
2012 2,408,009
Grand Total of Represented Foreclosure Filings 2008 to end of 2012 = 15,230,200.

My Google Search 2008

Foreclosure Rates (without the quotes)

This from CNNMoney.com Jan. 15th 2008

There were more than 3.1 million foreclosure filings issued during 2008, which means that one of every
54 households received a notice last year.
http://money.cnn.com/2009/01/15/real_estate/millions_in_foreclosure/

This from RealtyTrac Jan 15th, 2009

IRVINE, Calif. Jan. 15, 2009 RealtyTrac (realtytrac.com),
the leading online marketplace for foreclosure properties, today released its 2008 U.S. Foreclosure
Market Report, which shows a total of 3,157,806 foreclosure filings default notices, auction sale
notices and bank repossessions were reported on 2,330,483 U.S. properties during the year
http://www.realtytrac.com/Content/press-releases/foreclosure-activity-increases-81-percent-in-20084551

This from USAToday Feb. 3rd 2009

2008 foreclosure filings set record
By Stephanie Armour, USA TODAY
Foreclosure filings surpassed 3 million in 2008, setting a record that has Washington, D.C.,
policymakers calling for more aggressive efforts this year to aid troubled homeowners.

Foreclosures last year were up 81% from 2007 and 225% from 2006, according to a report out today
from RealtyTrac. One in 54 homes received at least one foreclosure filing during the year, RealtyTrac
reported.

My Google Search 2009

Foreclosure Rates (without the quotes)

This from Bloomberg Dec. 10

Foreclosure filings in the U.S. will reach a record for the second consecutive year with 3.9 million
notices sent to homeowners in default, RealtyTrac Inc. said.

This years filings will surpass 2008s total of 3.2 million as record unemployment and price erosion
batter the housing market, the Irvine, California-based company said.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a6aLuu9zxbcM

From CNNMoney Jan. 14th 2010

Record 3 million households hit with foreclosure in 2009
By Les Christie, staff writer January 14, 2010: 6:07 AM ET

NEW YORK (CNNMoney.com) -- Almost 3 million homeowners received at least one foreclosure filing
during 2009, setting a new record for the number of people falling behind on their mortgage payments.

RealtyTrac, the online marketer of foreclosed homes, reported that one in 45 households -- or
2,824,674 properties nationwide -- were in default last year. That's 21% more than in 2008, and more
than double 2007's total.
http://money.cnn.com/2010/01/14/real_estate/record_foreclosure_year/

This From Seeking Alpha Jan 15, 2010

Foreclosure Filings: 2009 Not Pretty, 2010 Expected to Be Worse

Jan 15 2010, 05:48 | about: IYR

The numbers are in for 2009, reported by RealtyTrac.

The total number of foreclosure filings in 2009 was 3,957,643 , involving 2,824,674 properties. There
are three classifications of foreclosure filings: default notices, scheduled foreclosure auctions and bank
repossessions (called repos). After the third phase action (repo) is completed, the properties are known
as REO (Real Estate Owned) properties until the bank can resell them.
http://seekingalpha.com/article/182705-foreclosure-filings-2009-not-pretty-2010-expected-to-be-worse

My Google Search

2010 Foreclosure Rates (without the quotes)

This from Daily Finance Jan 13th 2011

Foreclosure Filings Soared in 2010
by Douglas McIntyre Jan 13th 2011 6:45AM
The housing crisis is getting worse. There has been a great deal of evidence to support that. Real estate
research firm RealtyTrac has reported that 2010 was particularly bad. The company's Year-End 2010
U.S. Foreclosure Market Report shows "a total of 3,825,637 foreclosure filings -- default notices,
scheduled auctions and bank repossessions -- were reported on a record 2,871,891 U.S. properties in
2010, an increase of nearly 2% from 2009 and an increase of 23% from 2008." The report also indicates
that "2.23% of all U.S. housing units (one in 45) received at least one foreclosure filing during the year,
up from 2.21% in 2009, 1.84% in 2008, 1.03% in 2007 and 0.58% in 2006."

This from RealtyTrac again January 12, 2011

Record 2.9 Million U.S. Properties Receive Foreclosure Filings in 2010

Despite 30-Month Low in December
January 12, 2011 By RealtyTrac Staff
IRVINE, Calif. Jan. 13, 2011 RealtyTrac (http://www.realtytrac.com/gateway_co.asp?
accnt=137300), the leading online marketplace for foreclosure properties, today released its Year-End
2010 U.S. Foreclosure Market Report, which shows a total of 3,825,637 foreclosure filings default
notices, scheduled auctions and bank repossessions were reported on a record 2,871,891 U.S.
properties in 2010, an increase of nearly 2 percent from 2009 and an increase of 23 percent from
2008. The report also shows that 2.23 percent of all U.S. housing units (one in 45) received at least one
foreclosure filing during the year, up from 2.21 percent in 2009, 1.84 percent in 2008, 1.03 percent in
2007 and 0.58 percent in 2006.
http://www.realtytrac.com/content/press-releases/record-29-million-us-properties-receive-foreclosurefilings-in-2010-despite-30-month-low-in-december-6309

From USAToday 1/13/2011

Foreclosures fell 26% in Dec., but 2010 filings set a record
Updated 1/13/2011 9:24 PM

The pace of foreclosures has slowed since revelations that thousands of foreclosure documents may
have been improperly prepared, but for all 2010, almost 2.9 million U.S. properties received foreclosure
filings, a record high, and up 2% from 2009.
http://usatoday30.usatoday.com/money/economy/housing/2011-01-13-foreclosure13_ST_N.htm

This from CBS News Money Watch January 13, 2011

Report Shows 2010 Was Record Year for Foreclosures

By Ilyce Glink / MoneyWatch/ January 13, 2011, 11:34 AM
Foreclosure moratoriums in third-quarter 2010 slowed, but even so, 2010 was a record year for
foreclosure filings.
The 2010 Year-End U.S. Foreclosure Market Report from RealtyTrac shows a 2 percent increase in
foreclosure filings over 2009, and an increase of 23 percent over 2008.
One in 45 U.S. housing units received a foreclosure filing - defined as a default notice, scheduled
auction, or bank repossession - in 2010.
"Total properties receiving foreclosure filings would have easily exceeded 3 million in 2010 had it not
been for the fourth quarter drop in foreclosure activity--triggered primarily by the continuing
controversy surrounding foreclosure documentation and procedures that prompted many major lenders
to temporarily halt some foreclosure proceedings," said James J. Saccacio, chief executive officer of
RealtyTrac.
"Even so, 2010 foreclosure activity still hit a record high for our report, and many of the foreclosure
proceedings that were stopped in late 2010--which we estimate may be as high as a quarter million-will likely be re-started and add to the numbers in early 2011."
http://www.cbsnews.com/8301-505145_162-37143638/report-shows-2010-was-record-year-forforeclosures/

My Google Search

2011 Foreclosure Rates (without the quotes)

Lets start with RealtyTrac January 9, 2012

2011 Year-End Foreclosure Report: Foreclosures on the Retreat

January 9, 2012 By RealtyTrac Staff
IRVINE, Calif. Jan. 12, 2012 RealtyTrac (www.realtytrac.com), the leading online marketplace
for foreclosure properties, today released its Year-End 2011 U.S. Foreclosure Market Report, which
shows a total of 2,698,967 foreclosure filings default notices, scheduled auctions and bank
repossessions were reported on 1,887,777 U.S. properties in 2011, a decrease of 34 percent in total
properties from 2010. Foreclosure activity in 2011 was 33 percent below the 2009 total and 19 percent
below the 2008 total.
http://www.realtytrac.com/content/foreclosure-market-report/2011-year-end-foreclosure-market-report6984

This from Reuters NEW YORK Jan 12, 2012 12:06am EST
Foreclosure filings hit four-year low in 2011
(Reuters) - The number of U.S. homes that received a foreclosure filing fell to a four-year low in 2011 as
a slowdown in processing hit the market, RealtyTrac said in a report on Thursday.
Foreclosure filings, which include default notices, scheduled auctions and bank repossessions, slid by
34 percent in 2011, the lowest level since 2007, just as the housing market was starting to crumble.
RealtyTrac said there were filings on 1,887,777 homes last year.
Bank seizures of homes fell to 804,423 from 1,050,500 in 2010, also marking the lowest level in four
years.
http://www.reuters.com/article/2012/01/12/us-usa-housing-realtytrac-idUSTRE80B08H20120112

This from CNNMoney January 12, 2012

Foreclosures fall to lowest level since 2007
By Les Christie @CNNMoney January 12, 2012: 8:18 AM ET
NEW YORK (CNNMoney) -- Foreclosure filings and repossessions fell to their lowest level since 2007
last year.
Total filings, including default notices and bank repossessions were down 33% for the year to 2.7
million, according to RealtyTrac, the online marketer of foreclosed properties.
http://money.cnn.com/2012/01/12/real_estate/foreclosures/

My Google Search 2012 Foreclosure Rates (without the quotes)

This from Philly.com

Foreclosure filings By Alan J. Heavens, Inquirer Real Estate Writer

Posted: January 18, 2013
Foreclosure filings fell 3 percent nationally in 2012 from 2011's levels and were 36 percent below their
2010 peak, RealtyTrac reported Thursday.

http://articles.philly.com/2013-01-18/business/36396401_1_realtytrac-foreclosure-filings-darenblomquist

From RealtyTrac

1.8 Million U.S. Properties With Foreclosure Filings in 2012

January 14, 2013 By RealtyTrac Staff
IRVINE, Calif. Jan. 17, 2013 RealtyTrac (www.realtytrac.com), the leading online marketplace
for foreclosure properties, today released its Year-End 2012 U.S. Foreclosure Market Report, which
shows a total of 2,304,941 foreclosure filings default notices, scheduled auctions and bank
repossessions were reported on 1,836,634 U.S. properties in 2012, down 3 percent from 2011 and
down 36 percent from the peak of 2.9 million properties with foreclosure filings in 2010.
http://www.realtytrac.com/content/foreclosure-market-report/2012-year-end-foreclosure-market-report7547