Indiana Hit Record Foreclosure Numbers

Indiana Hits Record Foreclosure Numbers

"Indiana’s home foreclosure rate hit a record high in the last three months of 2005, and the state has led the nation in its rate of foreclosures since July 2004.

The Indianapolis Star reported that in the last quarter of 2005, more than 7,000 Indiana homeowners faced foreclosures. Why? The Star story attributed the boom in going broke to layoffs, personal bankruptcies and people taking lower-wage jobs as higher-wage work disappears. To that list, one could add that too many people don’t leave any slack in their budgets or build up the kind of savings they need to carry them through at least a few jobless weeks."
source: http://www.fortwayne.com/mld/newssentinel/14159468.htm

The more research I do, the more convinced I am that a wave of foreclosures is not far off.
This will be one of the greatest opportunities for Foreclosure Investors as the houses will be bought and sold quickly.

You see, the demand for homes remains high and as long as mortgage rates remain low, demand will be strong. But make sure you are buying in areas where (1) density is high (2) unemployment is low (3) inventory is low and (4) Mortgage money is in large supply.

filed under: foreclosure investing