Real estate blog entries tagged with reo by Brian M. Dubuc (Dubuc and Associates, LLC)

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Home : Blogs : Brian M. Dubuc : Brian M. Dubuc's Blog : Tag "reo"

reo: Half of all U.S. Mortgages Underwater by 2011? - 08/06/09 09:12 AM

Reuters reports that Deutche Bank projects that about half of all U.S. mortgages will exceed the value of the collateral - homes - securing those loans by 2011. Half.
That is a shocking projection that has some pretty terrible implications for our economy. First, if you think that there are a lot of foreclosures now, just wait until half of American homeowners wake up and realize that they owe more on their homes than their home is worth. Couple that with high unemployment and you have a recipe for a Super Tsunami of foreclosures.
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Brian M. Dubuc

Marietta, GA

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Dubuc and Associates, LLC

Address: 3225 Shallowford Road, N.E., Suite 1200, Marietta, GA, 30062

Office Phone: (770) 509-6565

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