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1 In 84 Homes Receive Foreclosure Notice

1 in 84 Homes Receive Foreclosure Notice in First Half of 2009

As the unemployment rate approaches double-digits, almost two million homes received foreclosure filings in the first half of 2009, 15% more than in the same period for 2008, and 9% more than in the previous six month period, according to a new industry survey. RealtyTrac, an online marketplace for foreclosure properties, said 1.905 million homes received default notices, auction sale notices, or bank repossessions between January and June. Ref. Source 8

Notice Foreclosure Receive Homes

I think this is a trend that is going to continue as those who are out of work continue to struggle to find a new job in this economy. I would not be surprised to see many more people lose their homes in the next few months sending the economy even deeper into a recession.

1 In 84 Homes Receive Foreclosure Notice History & Civil Business Politics

About half of U.S. Mortgages seen underwater by 2011:

The percentage of U.S. homeowners who owe more than their house is worth will nearly double to 48 percent in 2011 from 26 percent at the end of March, portending another blow to the housing market, Deutsche Bank said on Wednesday. Ref. Source 4

Notice Foreclosure Receive Homes

New wave of foreclosures lurks as defaults pile up

Unless foreclosure modification efforts begin succeeding on a permanent basis - a scenario that many analysts think is unlikely - millions more foreclosed homes will come to market. Ref. Source 5

Notice Foreclosure Receive Homes

I am believing that we will continue to see foreclosed homes and no one has come up with a plan to help those who can not pay for their homes. We have all these refinance program to keep a person in their home but how does that help when they have no way to keep paying for that home. Why do you think they got into the foreclosure mess to begin with?

1 In 84 Homes Receive Foreclosure Notice

Housing Meltdown, Ground Zero
The American home-owning dream on life support.
By Andy Kroll

The turnout was staggering: close to 45,000 desperate homeowners showed up during NACA's five-day stand at the Cow Palace for the chance to renegotiate their disastrous subprime mortgages or sky-high interest rates or interest-only payments. Ref. Source 3