I read an interesting article today on the mid-year foreclosure filings report released by RealtyTrac.
It was no surprise to read that California ranked fourth among the nation’s highest foreclosure rates. Nevada ranked first, Arizona second and Florida ranked third.
The RealtyTrac report shows that 1,654,634 U.S. properties received a foreclosure filing during the first half of this year. This equates to one in every 78 homes receiving a foreclosure filing between June 30, 2010 and the beginning of the year.
“The midyear numbers put us on pace to exceed 3 million properties with foreclosure filings by the end of the year, and more than 1 million bank repossessions,” said James J. Saccacio, CEO of RealtyTrac.
According to Saccacio, “The pace of properties entering foreclosure slowed as lenders preempted or delayed foreclosure proceedings on delinquent properties with more aggressive short sale and loan modification initiatives.”
Visit RealtyTrac to read the full report.
Today, nearly 1 out of every 7 homeowners in America is behind on mortgage payments. These are tough and frustrating times. Now more than ever, it’s important to identify your options. Foreclosure can be avoided, your credit can be saved, and your family’s financial future can be salvaged.
As a San Jose Real Estate Broker Agent and Certified Short Sale Specialist I have a strong and unique appreciation of the factors affecting the market, and know that there are options available to you.
If you would like to know more about your options, then call 800.972.1822 and schedule a free, no obligation consultation. Understand your options. Restore peace of mind. Get the help you need now. You have nothing to lose.