U.S. Foreclosures Continue To Rise

By
Real Estate Agent with Buyers Brokers Only, LLC

RealtyTrac, Inc., a California-based company that tracks the foreclosure market, released data that showed U.S. foreclosure filings in August jumped 115 percent compared to August 2006 and rose 36 percent compared to July 2007, the Boston Herald reported September 18, 2007.

"The filings include default notices, auction sale notices and bank repossessions. Some properties might have received more than one notice if the owners have multiple mortgages."

Multiple mortgages is not uncommon in recent years. One reason many home buyers have two mortgages is that they took out two loans in order to avoid paying private mortgage insurance, commonly referred to as PMI.

Read The Boston Herald Article

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Rainer
39,199
Andrew Scherer
Approved Mortgage Group - Doylestown, PA
Real Estate Representation At It's Finest
Richard, I read through this article earlier today, and absolutely think it is unbelievable.  Just the raw statistics that they provide are astounding! 
Sep 21, 2007 01:04 PM #1
Rainer
106,406
Ricardo Bueno
Diverse Solutions - Los Angeles, CA
Seems to me that PMI will be coming back to the marketplace. And hey, it's even Tax Deductible. 
Sep 21, 2007 01:50 PM #2
Rainer
301,270
Vicente A. Martinez
Prudential Douglas Elliman Licensed Real Estate Salesperson - Woodhaven, NY
Realtor, Brooklyn - Long Island - Queens Homes
It's a real shame that foreclosures are at an all time high throughout the US.
Sep 24, 2007 07:35 AM #3
Anonymous
brittoo2000

I read through this article earlier today, and absolutely think it is unbelievable. Some properties might have received more than one notice if the owners have multiple mortgages.

***********************

Glory777

Massachusetts Treatment Centers

Aug 04, 2008 07:41 PM #4
Anonymous
brittoo2000

The rise marks the 18th straight months the total number of foreclosure petitions in the Bay State surpassed the same month the previous year.

************************

Glory777

<a href="http://www.treatmentcenters.org/massachusetts">Massachusetts Treatment Centers</a>

Aug 04, 2008 07:46 PM #5
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Richard Rosa

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