FORECLOSURES UP 6% IN JULY 

July produced another onth of surgine foreclosures here in the U.S.  Lenders are tryng to move faster to ge the property back from the homeowners that are currently behind in their payments but are finding this difficult because do to the overbundance of home.

Repossessed homes in July alone were approximaely 95,000.  his was an increasse of 6% up from July of 2009 according to Realty Trac.

July markes the eighth consecutative straight month tthat the pace of homes lost to foreclosure has increased on an annual basis. 

Even though banks have tried to step up the repossessions to clear out the backlog of bad loans, news doesn't seem to get any better.

In the meantime, people who fall behind on their payments are allowed to stay in their homes much longer because the lenders do not want to add to the glut of the foreclosed homes already in our market.

Defaults on a mortgage have fallen on an annual basis during the past several months.

As lawmakers continue to tax the American people and as the market continues to charge more for their services rendered, many reduced income people are now feeling the squeeze.  

This includes the people that initally had a good credit Score.  These are now the fastest growing group in the foreclosure process!

Only about 2% of the home owners that signed up for Obama's remodification program were able to successfully get their loan remodified.

Hundreds of thousands of people could not qualify for this process and have now fallen into complete foreclosure.

Wih that being said Realty Trac is estimating hat more than one million American households are likely to lose their home yet this year to foreclosure.

In July 325,229 properties received foreclosure warnings.  Up 4% from June.

According to Realty Trac, this translates to about one in 397 homes.

Katie Creek
727-415-4669
www.RealEstateHomesFlorida.com

ABOUT ME!

I grew up in a rural town where you learned right from wrong.  Where people came together in time of crisis.  Where my father new the father in the next town and so on and so on.

As a kid my father and mother (which was  rarity in those times) worked hard every day except Sunday and sometimes even then, but Sunday was usually a time for Church and Family.
 
They were hard working people that never made a lot of money, but they did put bread on the table.  Mornings started between 6 and 7 a.m. usually and they got finished whenever it was time.  Sometimes very late at night.

I learned a lot from my mother and father.  I learned respect of one's self, to be honest, to help others in need and to be an independent thinker.  Out of the box, sort of to speak. 

Sometimes this got me into big trouble, but as a child I didn't realize the gift that my mother and father had given me.  Now it's to late to tell them, but I have a feeling they knew.

Because of my values in life I can only be Honest and Open.  You might not like what I have to tell you but, I've been brought up to where Honesty is the best policy. 

I certainly hope that my articles or blogs will never hurt or offend anyone however, it is my intent to bring you my honest feellings about a subject that I am working on. 

Please feel free to email me at any time with any of your questions or concerns
@ kdsrealestate@yahoo.com
I look forward to hearing from you.

Katie Creek
727-415-4669

 

WHAT'S HAPPENING IN FLORIDA?

It appears that interest rates will continue to stay low for a while longer, however lenders are warning that inflation is about to hit and the rates will begin to rise soon.  Some are talking double digits by the end of next year.  Let’s certainly hope not, but history does repeat itself!