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Foreclosure, A National Problem:
Foreclosure, A National Problem:Here are some disturbing statistics from the Mortgage Bankers Association, based on 44.6 million mortgages. Data courtesy of the CDPE organization.
National Numbers, Prime Loans - 1st Quarter 20103.41% in Foreclosure6.89% in Default (30+ days late)10.3% Total
National Numbers, Subprime Loans - 1st Quarter 201015.39% in Foreclosure25.76% in Default (30+ days late)41.15% Total
National Numbers, FHA Loans - 1st Quarter 20103.93% in Foreclosure12.09% in Default (30+ days late)16.02% Total
National Numbers, VA Loans - 1st Quarter 20102.63% in Foreclosure7.06% in Default (30+ days late)9.69% Total
National Numbers, All type loans combined - 1st Quarter 20104.63% in Foreclosure9.38% in Default (30+ days late)14.01% Total
That's approximately 1 in 7 mortgages not being paid.More than 7 out of 10 homeowners go into foreclosure without VISIBLE intervention.
If you are in financial distress, help is just a phone call away.Donn RaschReal Estate BrokerCDPE (Certified Distressed Property Expert)RE/MAX Equity Group, Inc.9200 SE Sunnybrook Blvd., Suite 100Clackamas, Oregon 97015503-658-5000http://www.equitygroup.com/draschDonn's Real Estate BlogClackamas River Front Home Tour Link
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