U.S. foreclosures rose to another record high in June according to RealtyTrac.
Foreclosure hitting record highs
U.S. foreclosures rose to another record high in June according to RealtyTrac. One in 355 households, or about 360,000 homes, was in some form of foreclosure during the month. As I mentioned earlier, roughly one quarter of all mortgages are worth more than the present value of the homes they cover.
That’s not good for the average home price, down 15% last quarter to $174,100 (existing single-family home).
Well, at least troubled homeowners can count on the Fed to keeping pinning down refi rates‚ Uh-oh!
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If you purchased or refinanced your home within the last three to five years chances are very good that within the next twenty four months you will be under water……. You will owe more then it will appraise for. Yup, you, don't look around I'm talking to you. Every foreclosure and short sale in your community is driving the price of your home down, every day you are loosing a little more. So, for those of you who are and have been doing what you should, working hard and paying your mortgage, on time, you are loosing. And the news media is telling us daily now “things are getting better”, Good Night Lucy!!!!!!!!!