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No Fix in Sight for Mortgage Delinquencies

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  • No Fix in Sight for Mortgage Delinquencies




    New Observations is forecasting that a minimum of one in ten homes with a mortgage today will be lost to foreclosure in the next two years and that this loss represents a staggering five-million-unit addition to inventory-for-sale.

    http://newobservations.net/2010/05/1...se-their-home/

  • #2
    Re: No Fix in Sight for Mortgage Delinquencies

    One thing this chart points out is the "bounce back" ability of Joe Sixpack has just about evaporated. 4 in 10 in 90 day delinquency were cured in 2005. They're now joined by the 60 day as DOA. Nobody's getting out alive.

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    • #3
      Re: No Fix in Sight for Mortgage Delinquencies

      "A new survey from Trulia and Realty-Trac revealed that 59 percent of homeowners wouldn’t walk away from their mortgages no matter how deeply underwater they were."
      When the real point is that fully 41% of Americans are willing to walk away. As housing and jobs continue to implode, they'll be joined by more.... many more.

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      • #4
        Re: No Fix in Sight for Mortgage Delinquencies

        Joe Sixpack is tapped out. You should see the condition of some of the homes I work on these days. To call them neglected would be an understatement.

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        • #5
          Re: No Fix in Sight for Mortgage Delinquencies

          Originally posted by don View Post
          When the real point is that fully 41% of Americans are willing to walk away. As housing and jobs continue to implode, they'll be joined by more.... many more.
          Good catch there Don. I'm surprised the quote wasn't from the National Association of Realtors. Insert smiley here.

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