Realty-Trac -Drowning in the Toxic waste dump of Foreclosures....is there an end or is this just the begining?

 Realty-Trac -Drowning in the Toxic waste dump of Foreclosures....is there an end or is this just the begining?

I just woke up and while I was sipping my first cup of java...I came across yet more news about our struggling Real Estate Market. This one seemed to add more fuel to the fire.

I've been asked this question by my friends....clients and even from strangers off the streets.

Yahoo News just published this news story >>> Foreclosures jump 57 percent in last 12 months  1 hr and 48 minutes ago. It talks about Florida...Nevada and California taking the lead in this never ending story. A quote from Rick Sharga, vice president of marketing at RealtyTrac, based in Irvine, California, said in the interview "What we're really looking at is ongoing fallout from people overextending themselves to buy homes they couldn't afford and using highly toxic loan products to get into the houses in the first place."

That's definately a new way to put it...now we are calling those type of loan products...."toxic".

There has to be a solution but I believe people just made a very big mistake and now most of them unfortunately are paying for it. My question is why would anyone get approved for a loan to make one of the largest purchases in their lives if they can't even afford to pay their $50 a month cell phone bill?

There has to be hope and there has to be a better solution........Let's find it.

For more information please contact Neal The Real Deal Bloom-CRS-Realtor® /Remax Hometown

2500 Weston Road ,Suite 103

Weston FL 33331

(954)608-5556

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