Foreclosure Activity up Across Most US Metro Areas

[Matt Collins]

Foreclosure Activity up Across Most US Metro Areas


source:
http://www.newsmax.com/US/US-Foreclosure-Rates/2010/07/29/id/365961

[WaltM]

In all, about 1.7 million homeowners received a foreclosure-related warning between January and June. That translates to one in 78 U.S. homes.

More than 1 million American households are likely to lose their homes to foreclosure this year, the firm said.

Let's make some deals before it gets nasty.

[rancher89]

It's already nasty, it's just been on the back burner, we still have around 15-20% of the homes in the neighborhood standing empty, with no for sale or rent signs..




It could be that they are trickling these houses onto the ledger, let's hope so.

[nate895]

Lots of people are staying in their homes despite not being able to pay the mortgage because it just looks bad on the bank ledger to have so many foreclosures. When foreclosures actual start happening to everyone who cannot pay their mortgage, it would get ugly. I highly doubt that is going to happen.

[pcosmar]

But, but, but,,,
Stimulus
Recovery
Wall Street is doing well
,
,
,













Bunny poop.
:(

[libertybrewcity]

http://www.realtytrac.com/trendcenter/

Here is a map.
1 in every 411 housing units received a foreclosure filing in June 2010

[WaltM]

Lots of people are staying in their homes despite not being able to pay the mortgage because it just looks bad on the bank ledger to have so many foreclosures. When foreclosures actual start happening to everyone who cannot pay their mortgage, it would get ugly. I highly doubt that is going to happen.

why don't they just cut deals so everybody wins?