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U.S. Foreclosure Filings Surge 65 Percent in April!

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posted on May, 15 2008 @ 12:49 AM
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U.S. Foreclosure Filings Surge 65 Percent in April!


news.yahoo.com

LOS ANGELES - More U.S. homeowners fell behind on mortgage payments last month, driving the number of homes facing foreclosure up 65 percent versus the same month last year and contributing to a deepening slide in home values, a research company said Tuesday.

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Nationwide, 243,353 homes received at least one foreclosure-related filing in April, up 65 percent from 147,708 in the same month last year and up 4 percent since March, RealtyTrac Inc. said.

(visit the link for the full news article)




posted on May, 15 2008 @ 12:49 AM
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That's nearly a QUARTER MILLION households that are soon to be vacated in ONE MONTH...Anybody still want to sit here and argue how the economic situation ain't so bad, and how we're all going to rebound this in no time?

We're looking at nearly a couple million ADDITIONAL homeless families by the end of the year from this disaster, and that's not even accounting for all the people who are becoming homeless OUTSIDE of this housing debacle, due to the job market and costs of living outpacing their incomes.

This is going to become a HIGHLY explosive issue real soon, whether you nay-sayers want to accept it or not.


More than 1 million home foreclosures are forecast for 2008.

"It doesn't look like the volume is going to slow down any time soon," Sharga said.

More than 54,500 properties were repossessed by lenders nationwide in April. In all, about 2 percent of U.S. households were in some stage of foreclosure during the month, RealtyTrac said.




news.yahoo.com
(visit the link for the full news article)



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