RealtyTrac, Inc., a California-based company that tracks the foreclosure market, released data that showed U.S. foreclosure filings in August jumped 115 percent compared to August 2006 and rose 36 percent compared to July 2007, the Boston Herald reported September 18, 2007.
"The filings include default notices, auction sale notices and bank repossessions. Some properties might have received more than one notice if the owners have multiple mortgages."
Multiple mortgages is not uncommon in recent years. One reason many home buyers have two mortgages is that they took out two loans in order to avoid paying private mortgage insurance, commonly referred to as PMI.
I am an exclusive buyer agent (and lawyer) in Haverhill Massachusetts. I help consumers buy homes in Essex and Eastern Middlesex counties. For more information visit: http://www.buyersbrokersonly.com
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Richard, I read through this article earlier today, and absolutely think it is unbelievable. Just the raw statistics that they provide are astounding!
Seems to me that PMI will be coming back to the marketplace. And hey, it's even Tax Deductible.
It's a real shame that foreclosures are at an all time high throughout the US.
I read through this article earlier today, and absolutely think it is unbelievable. Some properties might have received more than one notice if the owners have multiple mortgages.
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Glory777
Massachusetts Treatment Centers
The rise marks the 18th straight months the total number of foreclosure petitions in the Bay State surpassed the same month the previous year.
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Glory777
<a href="http://www.treatmentcenters.org/massachusetts">Massachusetts Treatment Centers</a>
The rise marks the 18th straight months the total number of foreclosure petitions in the Bay State surpassed the same month the previous year.
************************
Glory777
[url="http://www.treatmentcenters.org/massachusetts"]Massachusetts Treatment Centers[/url]