Tuesday, July 31, 2007

Foreclosures Skyrocket

According to this report on CNN, the number of foreclosures rose 58% during the first half of this year. One in every 134 households is going into foreclosure. In Nevada, it's even worse - 1 in every 40 houses.


Doug O said...

I believe it... I'm in the process of negotiating to buy a foreclosure from the bank via short sale at an otherwise untouchable price in the particular neighborhood I'm buying...
Definitely puts it all in perspective...

Edgar said...

According to a Daily Business Review article on June 06,

"Through May 4, South Florida had 13,235 foreclosure filings that added up to almost $3 billion in loans."

And THAT number keeps going up, even as I search through foreclosure for my wholesaling venture, I actually begin to feel bad for some home owners. It's good to know I have a lot to look forward into helping some, and making money at the same time.

-Edgar U.

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