Unemployment in Muskegon is the single greatest trigger to foreclosures today

In Muskegon we are now seeing Foreclosures in prime mortgages as well as the high breads. We are seeing forclosres in home up to a Million dollars. Unemployment is the single greatest trigger to foreclosures in Muskegon . Obviously, the current economy is adversely affecting families at every income level. The fastest growing segment of mortgages going to 'short sale' and foreclosure are prime mortgages. These are mortgages given to people who had a good job, good income, good FICO score and a good down payment when they purchased their homes. These foreclosures will affect all of Muskegon county and every price point. This increase in distressed inventory will further create downward pressure on values in Muskegon and throughout Michigan. If your in this situation and you think your situation is temporary talk to your lender and try to negotiate a lower rate maybe skipping some payments or a short sale.

If you are a buyer now is the time to buy with large inventories and lower prices there may never be a better time.

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