Income Trust | Personal Finance | Real Estate SEO

Browsing digg I found a really good article on “Rising Interest Rates: Time To Prepay Your Home Loan or Not? ” and it got me thinking.  I don’t have a mortgage at least not yet working on trying to get one, but with an Internet scam in the past on my Credit Report thanks to ScamPay (stormpay.com) who knows how likly that is going to be… (This is a picture heavy article…  Be kind try not to reload or refresh it   Also if you could be so kind feel free to subscribe)

Anywaz I was wondering how is the Mortgage news going currently…  Like anyone really wants to know.  But I did a bit of checking into it anywaz and heres what I was able to find…

“Because of the high home prices in many areas, more home buyers have stretched themselves financially with creative, and often risky financing that involves adjustable interest rates, interest only and negative amortization loans” he said. “Home buyers with these types of loans are more susceptible to default and foreclosure when interest rates move higher.”

Top 10 Metro Foreclosure Rates

Metro Area	% of households in foreclosure in Q1	1 foreclosure for every #households
1. Indianapolis	1.45	69
3. Dallas	1.01	99
5. Denver	0.95	105
7. Jacksonville, Fla.	0.75	133
9. Canton, Ohio	0.72	140

Chart Source: RealtyTrac

Indianapolis documented a foreclosure rate of one foreclosure for every 69 households, while Atlanta’s foreclosure rate was one foreclosure for every 70 households. Other top-10 foreclosure rates ranged from one foreclosure for every 99 households in Dallas-Fort Worth to one foreclosure for every 140 households in Canton, Ohio and Las Vegas.

I thought that was bad, however people keep trying to say the there is no bubble and that its just a market slow down.  Ahh if thats the case then why were we having this problem back in 2005!

The number of new properties in foreclosure increased nationwide for the second month in a row, with 64,057 in April compared to 62,422 in March, although the rate eased off somewhat in May, possibly indicating the March increase was a temporary spike.

According to data released today by online foreclosure listing service, Foreclosure.com, 22,734 new foreclosed residential properties were listed for sale in the U.S. during May 2005. The number represents a decrease of 17 percent from April 2005. The total number of U.S. residential foreclosure properties available for sale in the U.S. during the month of May was 74,011.

Related posts:

1. Quick Review of ESPlannerBasic, Free Version of ESPlanner Retirement Planning Calculator Background There are an increasing number of sleek but simplistic...
2. Picture of California Tax Refund IOU (Registered Warrant) You may have heard that California is broke, and is...
3. Ask The Readers: Cash Savings vs. Paying Down Loans There was a great response to my last Ask The...
4. Savings I-Bonds Update: September 2009 CPU-I Data Announced New inflation numbers are out, so it’s time for another...
5. Savings I-Bonds Update: New Inflation (err… Deflation) Rate Announced New inflation numbers for March 2009 were announced today, so...

Filed under: Finance, Money Saving Ideas, Mortgage Information, Real Estate, credit scores, housing crisis Tagged: credit scores, Finance, Finance-FAQs, Financial-FAQs, housing crisis, Money Saving Ideas, Mortgage Information, Real Estate, Real-Estate-News