The changing face of foreclosures
Bob Zacharias on Aug 20th 2009
Here’s an interesting article from the WSJ concerning the number of prime or conventional mortgages that are past due or in foreclosure. It was only a matter of time until the unemployment numbers started to affect this sector of homeowners. Note the graph at the end: more than 65% of all mortgages are still conventional, fixed rate mortgages. So when this sector is contributing to the foreclosure mess, look out. Now we’re talking about your neighbors. This is not a problem that we will cruise through quickly. This recession is still very much in effect for a lot of people…..
Filed in Uncategorized
