More Q2 reports of apparent foreclosure records are hitting the media, with some of the most misguided reporting seen yet. Surprisingly, the particular article under scrutiny comes from Reuters, one of the most respected news wires in the world.

The article titled, “U.S. foreclosures jump to record high,” written by Lynn Adler, is a prefect example of the media’s tendency to report on “doom and gloom” or worse yet, give heed to more dramatic suppositions.

The headline, “U.S. foreclosures jump to record high” leaves out a rather important fact. According to the article the record comes from an increased amount of foreclosure filings- or default notices. As Foreclosure Research continues to point out, these filings should not be considered FORECLOSURES. The title makes a blatant error of this.

What is worse is the fact that four paragraphs down where the low-priority information is located, comes the most important observation of all; that “bank repossessions, know as real-estate owned or REOs, fell on a monthly and annual basis to the lowest level since March 2008.” So perhaps a more accurate, less polluted headline would have read, “Foreclosures (the proper use of the word) decreased to lowest levels since March 2008.”

Another interesting observation is how the statement expands on all the synonyms of REO except for its most pertinent one- FORECLOSURES.

The Plea:
A note to all reporters; given the state of the economy please be more accurate when reporting on foreclosures. Also, be sure to inform yourselves on the foreclosure process and the meanings of all its word associations. Most importantly, try using the good news in the headline for once.

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