Thursday, January 14, 2010

File that under "Foreclosure"

Hi People.
We did it! we broke the previous record of fillings for foreclosures, NODs, auctions & repos. Over achievement aside, what will this all turn into? How many of these will be saved by a loan re-modification (HA!)? How many people will get their job back (the verdict is out on that one)? How many people will short sale as opposed to letting their home go to foreclosure (either way you slice it, that person loses their home)? How many of these homes will end up back on the market in time for the newer buyer to enjoy the $8000 tax credit ($6500 for repeat offenders)? There's a ton to consider.
Check out this article by RealtyTrac and get educated.
http://rismedia.com/2010-01-14/realtytrac-year-end-report-shows-record-2-8-million-u-s-properties-with-foreclosure-filings-in-2009/

God Bless.