Booming Foreclosure Rate Threatening All Americans
Posted on July 29, 2010
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You may be able to make your house payments but the mortgage crisis can still impact your family. Desperate homeowners facing eviction many times resort to crime seeking money to keep the roof of their families head. This is especially true in areas with high unemployment.
Households across a majority of large U.S. cities received more foreclosure warnings in the first six months of this year than in the first half of 2009, new data shows.
The trend is the latest sign that the nation’s foreclosure crisis is worsening as homeowners battling high unemployment, slow job growth and an uneven rebound in home prices continue to fall behind on their mortgage payments.
In all, 154 out of 206 metropolitan areas with at least 200,000 residents posted an annual increase in foreclosure activity between January and June, foreclosure listing firm RealtyTrac Inc. said Thursday.
The firm tracks notices for defaults, scheduled home auctions and home repossessions — warnings that can lead up to a home eventually being lost to foreclosure.
The latest figures show the threat of foreclosures is spreading well beyond the top tier of metropolitan areas located in California, Florida, Nevada and Arizona, which have borne the brunt of the fallout from the housing crisis.
Read Full Article Here: Foreclosure activity rising in most metro areas – Business – Real estate – msnbc.com.
Be sure your home is secure and valuables hidden. Guns are especially popular for thieves as they bring top dollar and are easily sold on the streets.
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