Mortgage Help

Alan Greenspan, former Chairman of the Board of Governors of the Federal Reserve, said this week that he expects “as a minimum, large single digit” percentage declines in US home prices and would not be surprised if the fall was “in double digits.”
 Financial Times interview

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There were 243,947 foreclosures in August according to the latest RealtyTrac survey, up 36% from July and 115% from last year.  This is the highest number of foreclosures in a single month since RealtyTrac began the survey.
Nevada, California, and Florida had the top foreclosure rates.  Nevada had 1 foreclosure for every 165 households, California had […]

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The rate of homes entering foreclosure was nearly triple last year, at an all time high in the latest Mortgage Bankers Association survey.
The rise in foreclosures is mainly due to an increase in the foreclosure rates in Florida, California, Arizona, and Nevada.  Ohio’s foreclosures are twice the national average, and neighboring states are also experiencing […]

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The Pending Home Sales Index fell over 12% from the July reading.  The National Association of Realtors attributes this to continued tightening by mortgage lenders.
Read the details here.

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