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Foreclosures Rise in 75 Percent of Major Metro Areas

Mortgage and Lending with Guaranteed Rate, Inc NMLS ID:108672 More Info.

foreclosureForeclosure activity rose in 75 percent of the nation's top metro areas during the first half of the year compared to 2009. RealtyTrac's Midyear 2010 Metropolitan Foreclosure Market Report shows 154 of the 206 metropolitan areas with a population of 200,000 or more posting year-over-year increases. James J. Saccacio, chief executive officer of RealtyTrac, said that, though there are signs that foreclosures have peaked in some of the hardest-hit markets, the fragile stability in the market is threatened by persistently high unemployment. Rick Sharga, also of Realty Trac, feels that there won't be any real price appreciation until 2013. More here, here, and here.

Posted by

Michael Pond

Branch Manager/Loan Officer, NMLS 108672

Envoy Mortgage, NMLS 6666

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