dow2664
Negocioenlinea
Foreclosures in America are still a big problem and many Americans are dealing with the potential of losing their home. Mortgage refinancing is getting more difficult since the long term interest rates for a fixed rate mortgage modification are trending in a positive direction. Even with the recent slow down relating to legalities and paperwork, the national number of repossessions is staggering. The number of foreclosures across the United States has dipped recently and many attribute the lower numbers to the robo-signing moratorium. The foreclosure process has slowed as banks are becoming more diligent with the completion of the appropriate paperwork that accompanies the foreclosure process. Industry practices relating to the foreclosure process are being highly scrutinized but repossessions in 2010 topped 1 million homes. Since 2007, the trend of foreclosures and repossessions has gone up, even with the recent drop off relative to the robo-signing moratorium. Some of the top listed reasons across our nation for foreclosure relate to financial crisis due to job loss or unexpected unemployment, sudden illness or medical emergency, death in the family, divorce and loss of a second income and excessive debt obligation. Long term interest rates are trending higher which will not make it more difficult for many to attempt a refinance to lower their monthly mortgage payments. According to RealtyTrac, 2.9 million foreclosure notices were filed during 2010 which was 1.7% above the number of notices filed . Author: Stephen Johnson
No comments:
Post a Comment