Midwest Mortgage Foreclosures Up Significanty
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
The foreclosure rate in the Midwest is up significantly. This may be a harbinger of things to come as the Midwest has seen anemic property value growth in the last year. The high usage of non traditional loans such as interest only and ARMs has fueled the problem and may show the problems the coasts will face in the next couple of years.
An analysis by property tracker Realty-Trac Incorporated that is reported in today’s Chicago Tribune shows that nearly 13-thousand-700 Illinois properties entered foreclosure during the first three months of 2006.
That’s up 32 percent from the fourth quarter of 2005, according to Realty-Trac.
The numbers appear even worse elsewhere in the Midwest. Automotive-related job losses have helped push Michigan and Ohio to foreclosure increases of 91 percent and 39 percent, respectively, compared with last year’s fourth quarter.
And Realty-Trac says foreclosures are up 38 percent nationally this quarter, and higher than any quarter of last year. via WQAD
whatever do you know him or were you there? correct we were not there so why are you so sure ...
This property is a wonderful property that just closed escrow for $ 16.5 Million. The asking price was way ...
Unfortunately, there's only one reason Oliver isn't telling you the 'other side.' The victim's version was true. He is what ...
I find all of this very interesting. I have recently moved into a community that is considering offering lease/buy options, ...
Realist, you've got some points in about the article. Seeing as how anyone at NAR is probably a bit biased, ...
I would speculate that RE/MAX agents lower their commissions most often because of how the brokerage is set up - ...
Your definition of "facts" is rather loose - pretty heavy on anecdotal observations and subjective terms. And classifying Lawrence Yun's ...
I have always wondered how all these houses built in one week hold up- do they build them in one ...
Damn mainstream news and media! That is why I listen to NPR! 
