Part of the guest blogger series
Guest blogger Russell Nolting
HOMES IN FORECLOSURE
It seems everyone is talking these days about foreclosures...
There are pockets, places such as Stockton, CA and Las Vegas, NV where the foreclosure rate is in excess of 4%, however, the national average is 1.033%. Considering the fact that 30% of all homes are actually free and clear of any mortgage, the true foreclosure rate is actually seven tenths of 1% of all homes.
So, 99% of all homes in the US are not facing foreclosure. There's a spin that is needed.
BREAKING NEWS....A REPORT OUT TODAY NOTES THAT MORE THAN 99% OF THE HOMES IN THE UNITED STATES ARE DOING JUST FINE FINANCIALLY...FULL REPORT AT 11.
Now, if you're in the market for a home, you'll see lots of foreclosure properties because most of them are for sale. They make up a decent percentage of the "For Sale" market, but not of the total homes in the country.
Let's get the facts straight -- it's not as bad as the media would have you think. And, by the way, did you know you can still buy a home with 3% down, 30-year fixed rate mortgage, 6.0% interest rate?