How Foreclosure Data is Manipulated

Citi decided to suspend foreclosures for 30 days. Remember this when next month we look at the data. I do agree with suspending foreclosures during the holiday season, but this trick in nature has been used over and over during this crisis to make the data look more tame. They have changed the definition of delinquency so many times (for eg. from being back in payments from 2 months to 6 months etc.) that the ulterior motive is so obvious. Housing market is terrible and only will get much worse. So enjoy.