The National Association of Realtors Publication, "REALTOR®Mag", reported in their DAILY REAL ESTATE NEWS | THURSDAY, DECEMBER 01, 2011
"The nation is not even halfway through the foreclosure crisis," suggests a new report from the Center for Responsible Lending, “Lost Ground, 2011.” In the report, the Center for Responsible Lending analyzed 27 million mortgages issued over a five-year timespan.
Researchers found that at least 2.7 million mortgages issued from 2004 through 2008, or 6.4 percent, have ended in foreclosure as of February 2011. Also during that time period, researchers found that 3.6 million households — or an additional 8.3 percent — are still at immediate or serious risk of losing their homes, according to the study.
The report also included a breakdown of how the foreclosure crisis has affected different races and ethnicities. As a group, whites were found to have lost more homes than any other due to foreclosure. However, neighborhoods with high concentrations of minorities as well as low- and moderate-income neighborhoods, in general, were found to been hard hit in the foreclosure crisis, too.
Researchers found that in areas of the country that faced moderate housing price appreciation during the boom, foreclosure rates were highest for low-income borrowers, which was most evident in places like Detroit, Cleveland, and St. Louis. On the other hand, in areas with strong housing appreciation before the foreclosure crisis, such as in areas like California, Nevada, and Arizona, researchers found that more middle and higher-income borrowers faced foreclosure.
To view rates of foreclosure and serious delinquencies by your metro area, download the report.
Unfortunately, too many homeowners who have been unsuccessful in their attempts to refinance are now facing foreclosure. Often they proceed without the assistance or advice of real estate professionals. Now more than ever, you need to find an advocate for you and your family's interests, one who is prepared to handle your specific needs.
Real estate professionals with the Certified Distressed Property Expert (CDPE) Designation have trained extensively to understand the options, solutions, and effective methods for dealing with homeowners facing hardships. Don't risk your financial future and the potential sale of your home with an agent who does not have all the solutions.
CDPEs fully understand that saving a home can save a life, which can save a family, which can save a future.
As a CDPE I am available for those who need my expertise to get back on the path to stability.
If you, or someone you know has questions about this information, or would like to get started creating a plan, call me today.
The more proactive we are, the better the chance of finding financial freedom and stability.
For a Free Report: Understand your options and learn what you can do next.
Or...I urge you to take a moment and call me…
Alexandra von Bryce--- Direct: 603-387-1674
For more information on Short Sales visit my website at: NHShortSale911.com
Or my Blog: NHShortSaleCenter.com
Alexandra von Bryce, REALTOR®
CDPE (Certified Distressed Property Expert) CDPE Advanced Member, Certified Short Sale Specialist, Certified Distressed Luxury Property Specialist
Direct: 603-387-1674
RE/MAX Properties
169 Daniel Webster Hwy.
Nashua, NH 03060
Direct: (603) 387-1674
Office: (603) 589-8800
Fax: (603) 768-4253
Source: Realtor.org
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