More than a million homes in foreclosure »
Posted by: engineer 2 months, 3 weeks agoMore than a million homes in the U-S are now in foreclosure, a staggering figure that shows how hard the economy is hitting millions of Americans
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engineer2 months, 3 weeks ago
A report by the Mortgage Bankers Association shows the rate of both home foreclosures and late payments set records in the first quarter of this year, the highest in nearly 30 years. And, it's only expected to get worse. The group says the slump in housing prices was the biggest factor for more foreclosures and late payments. And, there will likely be more in the months to come since home prices are expected to keep dropping.
Some states are especially hard hit: California, Florida, Nevada and Arizona accounted for 89% of the increase in new home foreclosures. These are states where the prices dropped sharply and there was too much supply due to a lot of construction.
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engineer
Hi My background is Biomedical engineering with an MBA As you know from all my comments where I almost stand politically. I have loads of ...
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