Though unanticipated use of the funds

"This reinforces in my mind that louis vuitton outlet this was just a shakedown [of the banks] by the states without actually guaranteeing that anyone who was harmed would actually be compensated," he says. In most states, attorneys general exercise full control over their state's allocation, making it likelier that they, as former stakeholders in the settlement, will invest their share of the fine in the housing market. But some state constitutions put control of the money in the hands of state legislators and/or governors, the report says. Though unanticipated use of the funds is sure to draw fire from fair housing advocates, the report notes that most of the money still should percolate down through the real estate market. What's more, the report says that only 10 states have finalized their decisions on how to allocate the money. The 26 states that require judicial review -- including Florida, New Jersey louis vuitton t shirts for men and Illinois -- continue to see increases in foreclosure activity. Another factor RealtyTrac cited for the decline in foreclosures was a big increase in short sales, deals in which borrowers sell homes for less than what they owe on their mortgages. "More distressed loans are being diverted into short sales rather than becoming completed foreclosures," said Brandon Moore, RealtyTrac's CEO. Foreclosures: America's hardest hit neighborhoods Banks take a hit on short sales because they forgive the difference between proceeds from the sale and the mortgage balance. But short sales can cost banks less than foreclosures. In fact, several large mortgage lenders are paying out louis vuitton t shirt incentives to borrowers who complete a short sale.