Forclosures up 44%
http://www.businessweek.com/news/2010-06-10/u-s-home-foreclosures-climb-44-to-record-in-may-update1-.html
Bank repossessions climbed 44 percent from May 2009 to 93,777,
One out of every 400 U.S. households received a filing.
“We’re nowhere near out of the woods,” Rick Sharga, RealtyTrac’s senior vice president for marketing, said in a telephone interview. “We’re likely to set a quarterly record for home seizures if June is anything like May.”
He predicted last month that another 5 million delinquent mortgages will end in foreclosure in addition to properties that had already been repossessed.
Almost 3.1 million properties have been seized by banks since April 2005
“The second quarter won’t be the peak,” Sharga said. “I’m not even sure 2010 will be.”
Funny how the government puts out a plan to save the big banks and they all do great. They put out a plan to save homeowners and nothing changes at all.
Bank repossessions climbed 44 percent from May 2009 to 93,777,
One out of every 400 U.S. households received a filing.
“We’re nowhere near out of the woods,” Rick Sharga, RealtyTrac’s senior vice president for marketing, said in a telephone interview. “We’re likely to set a quarterly record for home seizures if June is anything like May.”
He predicted last month that another 5 million delinquent mortgages will end in foreclosure in addition to properties that had already been repossessed.
Almost 3.1 million properties have been seized by banks since April 2005
“The second quarter won’t be the peak,” Sharga said. “I’m not even sure 2010 will be.”
Funny how the government puts out a plan to save the big banks and they all do great. They put out a plan to save homeowners and nothing changes at all.
posted by res17 at
June 10, 2010
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home