The Foreclosure Flooding Continues

6 May 2008

Author: admin Posted under Foreclosure homes

This is the situation all across the US whether it is California, Florida, Texas, Indiana, North Carolina, Pennsylvania, New York, and Washington. All you will get to see around you is more and more foreclosure homes piling up. Government tax foreclosures have been on the rise since 2005 when more than a million homeowners bought homes to mark the onset of the real estate boom. All that remains now is the broken dreams of millions of people who wanted to build the perfect home for their family.

Between January and September 2007, the top four counties that recorded a high number of tax lien foreclosures include Clark County on top of the list with 4.5%, Riverside County with 4.1%, San Bernardino with 3.7% and Miami Dade with 3.1%. One of the worst hit was the Denver county area that recorded an increase in bank foreclosures by almost 41.5% and ended the year with 23,326 filings as compared to the 18,610 repo homes in 2006.

With no or little knowledge to stop foreclosures, homeowners find themselves in the heat of things and constantly failing to make the necessary mortgage payments. People like Benigna Alarcon thought that reducing the monthly payment to $700 could save her home but it still didn’t work out. California bank foreclosures present a grim picture as they shot up by 327% since 2007. But amid all this heat and loss of home, there is something good left for investors and first time homeowners, which is: A great home for almost half the price. To know more about how you can get your hands on such a home, just sign up for a foreclosure-support membership and download the latest foreclosure listings.

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