FORECLOSURES – here’s the factsNovember 27, 2009
Great article from CreditLoan blog can be found at: http://www.creditloan.com/blog/4-alarming-foreclosure-facts/
It’s important to note that it is NOT subprime loans that are the problem anymore – its fixed rate borrowers who are experiencing economic collapse due to business downturn or loss of job or simply poor planning. That’s the scary part – it’s not the inexperienced and unqualified borrower anymore – it’s the average American who has been paying on their home loans for years and now finds themselves unable to keep up with their payments. They are losing their homes in record numbers.
Regardless – it’s going to be an interesting 2010.