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Showing posts from December, 2009

Foreclosures

In March 2009, according to CNN, during the first half of 2009 1.5 million homes began the trek down the foreclosure process—representing 1 in every 89 households.

CNN which used data provided by realtyTrac broke down the data to show the 10 states where the most mortgage foreclosure activity is taking place. Here’s the data:
Nevada 1 in every 70 houses in foreclosureArizona 1 in every 30Florida 1 in every 33California 1 in 34 housesUtah 1 in 69Georgia 1 in 70Michigan 1 in 74Illinois 1 in 76Idaho 1 in 79Colorado 1 in 80Ohio 1 in every 86 According to a story on the Washington Post, the rate of home foreclosures in 2009 is expected to crest over 1.8 million (vs. 1.4 million in 2008). The main cause for the sharp uptick in foreclosure filings is not the continuation of the sub-prime crisis—but actually the sharp increase in unemployment rates.

A.according to a regular monthly report from RealtyTrac, the online marketer of foreclosed properties, nearly 1.2 million have been los…