Nov 28 2007
From Big to Broke
Via USA Today
Coicides nicely with an article we published a while back on how we got into this mess we’re in. Visit USA Today for explanations as to what the dots represent on the chart.
Archive for the 'Foreclosure' Category
Nov 15 2007
Foreclosures on the Rise Yet Again
According to Realtytrac, a huge online marketer of foreclosed homes, 77 out of the nations 100 largest metropolitan areas have seen an increase in foreclosed homes over the past 3 months as compared to the previous 3. The states taking the brunt of the damage were Ohio, Florida, and California.
One of the key factors to the high levels of foreclosed homes is the fact that there are over 7.2 million homes with subprime lending, of which 14% are considered in default, this according to the Center for Responsible Lending. Their prediction is that one of every five loans awarded in 2005 and 2006 will end up in foreclosure. That is a hugely dissatisfying number. Continue Reading »