With all the relief efforts out there, are foreclosure rates actually dropping yet?
Jul 22, 2009 in
Financial and Loan Tips
Painted Jezebel
With programs out there like Hope Now and Neighborworks, and so on, shouldn’t the foreclosure rates be slowing down? It doesn’t seem to be the case in my town, but what are the updated national numbers?
With programs out there like Hope Now and Neighborworks, and so on, shouldn’t the foreclosure rates be slowing down? It doesn’t seem to be the case in my town, but what are the updated national numbers?
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2 comments
roadhunter on July 23, 2009 at 12:04 am
They are actually rising. No big national relief has been put into place yet. I hope it never is. People who borrowed 100% for their home, are on interest-only loans, or bought houses thinking they would explode in value are not my problem, and it sickens me to think my tax dollars will go to help them. I need my money to make my own house payment!
billy bad ass on July 25, 2009 at 3:00 pm
Recent reports from realty-trac state a 3 percent decrease from the previous month but still a 53 percent increase from June 2007. The report also shows one in every 501 U.S. households received a foreclosure filing during the month. If you know anyone that is dealing with this issue, I would refer them to , they dont advertise it but they do mortgage modifications and they helped my roomate make her current mortgage more affordable. Hope this info helps. I still foresee the housing crisis to persist for the next couple of years. Mckain and Obama are both pushing this issue and both back loan modifications… I wouldnt be surprised if it becomes mandatory for banks to adjust their outstanding loans.