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JasonD
Junior Member
Joined: 28 May 2008
Posts: 12
Location: Idaho
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 Posted: Wed May 28, 2008 4:30 pm Post subject: Foreclosures are UP |
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I found an interesting article on foreclosures for the 2008 year. It seems that with the large amount of subprime loans given over the past couple years when the real estate market was really booming that now over 13% of those loans are delinquent.
Apparently banks have been holding off on foreclosing until this year and now a large amount of foreclusures and short sales are anticipated. I find it interesting that lending institutions are becoming that relaxed on lending requirements or if they are just getting to creative.....
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Gary
Site Admin
Joined: 28 May 2006
Posts: 276
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| Posted: Wed May 28, 2008 6:18 pm Post subject: |
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Jason,
That sure is the truth here in California where I am at. I'm in Northern California and the foreclosures have gone up, back in March there was 400 homes in my city that were Bank Owned. Just now the numbers have come down a little because people are seeing it as an opportunity and trying to pick some of them up.
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