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deutsche bank: RealtyTrac: Foreclosure Filings Set New Record In July - 08/13/09 07:30 AM
According to RealtyTrac, foreclosure filings set a new record in July as they rose 7% from June and are up 32% year over year. According to James J. Saccacio, RealtyTrac's chief executive, "July marks the third time in the last five months where we've seen a new record set for foreclosure activity". In other words, despite calls of a housing bottom by CNBC's Jim Cramer and even the AP, the housing market is still deteriorating and home values are still eroding. This escalation of foreclosure activity also brings into question the effectiveness and long-term sustainability of the Obama Administration's $75 billion loan modification
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deutsche bank: Deutsche Bank: Half of All Mortgages To Be Underwater By 2011 - 08/07/09 04:19 AM
According to a new report put out by Deutsche Bank, half, or approximately 25 million homeowners will be underwater with their mortgage by 2011, the year in which Deutsche Bank expects home prices to finally stabilize. Les Christie and CNNMoney.com are reporting that the Deutsche Bank forecast goes further than any other estimates that have been calculated to date, "First American CoreLogic estimated 11 million homeowners -- and rising -- were underwater by the end of 2008. Moody's Economy.com estimated 15 million at the end of March and projected 17.5 million by early 2010. Zillow.com reported that 20 million were already underwater at the end of
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Mark MacKenzie
Phoenix,
AZ
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Mark MacKenzie Real Estate Planning
Office Phone: (480) 600-0330
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