Foreclosures At Record Numbers In Many Areas
Reports are coming in for all around the country: Foreclosure rates are hitting record numbers these days.
In some areas, like Sacramento, California, ordinances are being revised due to the large number of houses that are becoming vacant due to foreclosures.
The idea is to reduce the time the city has to wait before taking action on a vacant house before it becomes a ‘nuisance; property.
A few months ago I saw a news report on this very subject. According to the report, many foreclosures are due to homeowners that opted for adjustable rate mortgages and when the rates rise, the homeowners are no longer able to make their mortgage payments.
In some areas of California, foreclosures are up as much as 799% over the same period just last year.
Lending giant Countrywide Financial Corporation has reported a sharp increase in delinquent mortgages. As the nations’s largest mortgage lender, it is likely a indicator of a trend that is plaguing the entire country.
In Illinois, foreclosures were up 55% last year and are on track to eclipse that number this year.
I work for CurrentForeclosures.com, a foreclosures site and have seen a huge increase in the number of foreclosures in the past 7 months. I believe it is a combination of not only sub-prime and ARM mortgages, but also the high number of people who have gotten loans with interest rates at an all time low… in addition to the rapid depreciation in some areas and the difficulty some are experiencing in selling their homes.
You Sons of Bitches take my home fone number out of your database
I am sick and tired of recieving automated or human calls from you greedy bastards!!!!!
I can only assume, “Angry Recipient,” that your comment was directed towards the person who posted the comment previous to yours.
I took the liberty of removing your phone number from your post to prevent other annoying people getting hold of it.
I don’t think posting here is going to do you any good. I’m just a guy with a blog, and the other guy that posted the first comment was just here trying to get a free link to his web site (which I removed) and will probably never come back to this site.