Foreclosure Rates Increase by 72% in First Quarter
Foreclosure Rates Increase by 72% in First Quarter
According to Realty Trac, lenders started foreclosing on 1 out of 356 homes in the US!
This translates to about a 72% increase in foreclosures in the first quarter alone.
Foreclosures are tracked when they hit 90 days delinquent. This means a large number of the homeowners are starting to feel the crunch of increasing gasoline costs, bills and the increase in the adjustables rates resulting from Federal Reserve's continued rasing of the Fed Rates.
This is going to result in an abundance of foreclosed homes flooding the marketplace in the form of increased home listings by real estate agents as well as increased REO inventory by the banks.
Get a hold of a good lender, get yourself pre-approved for a loan and start researching the markets using many free foreclosure lists discussed in my blog.
But most importantly, don't get too excited and be careful when investing. The last thing you want to do is end up on the foreclosure lists yourself!
Good luck and happy investing.
filed under: foreclosure investing
According to Realty Trac, lenders started foreclosing on 1 out of 356 homes in the US!
This translates to about a 72% increase in foreclosures in the first quarter alone.
Foreclosures are tracked when they hit 90 days delinquent. This means a large number of the homeowners are starting to feel the crunch of increasing gasoline costs, bills and the increase in the adjustables rates resulting from Federal Reserve's continued rasing of the Fed Rates.
This is going to result in an abundance of foreclosed homes flooding the marketplace in the form of increased home listings by real estate agents as well as increased REO inventory by the banks.
Get a hold of a good lender, get yourself pre-approved for a loan and start researching the markets using many free foreclosure lists discussed in my blog.
But most importantly, don't get too excited and be careful when investing. The last thing you want to do is end up on the foreclosure lists yourself!
Good luck and happy investing.
filed under: foreclosure investing
posted by Mr. Foreclosure at 12:31 AM
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