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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
Foreclosures Rise 58 Percent In First Half Of '07
Posted on 08/03/2007 10:32:13 | Link | Post Comment
Foreclosures rise 58 percent in first half of '07
from MSNBC.com, reports that the number of U.S. homes facing foreclosure surged 58 percent in the first six months of 2007, with 573,397 properties in some phase of the foreclosure process in the first half. The numbers were released by RealtyTrac. "We could easily surpass 2 million foreclosure filings by the end of the year, which would represent a year-over-year increase of over 65 percent," said RealtyTrac CEO James J. Saccacio. California, Florida, Texas and Ohio led the nation in homes receiving foreclosure related notices, California alone has 104,572 properties receive notices of default, more than double a year ago.The national foreclosure rate through the end of June was one filing for every 134 U.S. households, the company said. Lagging home sales and flat or decreasing home prices have made it more difficult for homeowners who fall behind on payments to sell their homes and clear the debt, spurring the rise in foreclosure activity.
Foreclosures soar in Arizona from the Arizona Republic,
reports that numbers released Monday by RealtyTrac shows that foreclosure related filings in Arizona increased by 128 percent in the first half of 2007, over the same period a year ago. In total, RealtyTrac estimated that one in every 92 households in Arizona is in some stage of foreclosure. In Maricopa County, there were 19,394 properties in some stage of the foreclosure process in the first half of 2007, compared with 7,671 during the same period in 2006. Experts say the increase in foreclosures was not unexpected after the housing boom of 2004-2005 and the easy credit available. Now, many of those loans which were ARMS are being adjusted upward, causing homeowners and investors to look to sell or refinance.
Housing Bubble and Real Estate Market Tracker from SA for 7/31
from MSNBC.com, reports that the number of U.S. homes facing foreclosure surged 58 percent in the first six months of 2007, with 573,397 properties in some phase of the foreclosure process in the first half. The numbers were released by RealtyTrac. "We could easily surpass 2 million foreclosure filings by the end of the year, which would represent a year-over-year increase of over 65 percent," said RealtyTrac CEO James J. Saccacio. California, Florida, Texas and Ohio led the nation in homes receiving foreclosure related notices, California alone has 104,572 properties receive notices of default, more than double a year ago.The national foreclosure rate through the end of June was one filing for every 134 U.S. households, the company said. Lagging home sales and flat or decreasing home prices have made it more difficult for homeowners who fall behind on payments to sell their homes and clear the debt, spurring the rise in foreclosure activity.
Foreclosures soar in Arizona from the Arizona Republic,
reports that numbers released Monday by RealtyTrac shows that foreclosure related filings in Arizona increased by 128 percent in the first half of 2007, over the same period a year ago. In total, RealtyTrac estimated that one in every 92 households in Arizona is in some stage of foreclosure. In Maricopa County, there were 19,394 properties in some stage of the foreclosure process in the first half of 2007, compared with 7,671 during the same period in 2006. Experts say the increase in foreclosures was not unexpected after the housing boom of 2004-2005 and the easy credit available. Now, many of those loans which were ARMS are being adjusted upward, causing homeowners and investors to look to sell or refinance.
Housing Bubble and Real Estate Market Tracker from SA for 7/31
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