Home Foreclosures Rising in America – New Report To Come
More and more Americans are in danger of losing their homes; a survey out this week is expected to show. After seeing all the people purchase homes with ARM’s and interest only loans it was only a matter of time for everything to catch up. The same thing happened in the automotive industry as 0% financing got the cars sold, but now sales are sluggish as everyone has a new car!
A mortgage survey due on Wednesday is expected to show that more and more Americans are in danger of losing their homes. The quarterly report from the Mortgage Bankers Association is also expected to show that the same mortgage products that helped send the housing market into the stratosphere are now weighing homeowners down. In a hint at Wednesday’s data, October saw more foreclosure actions than any other month this year according to RealtyTrac, an online marketplace for foreclosure properties.
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