Forums » All Categories » Foreclosure Trends » FL » Charlotte County » Englewood » 34224 » If there are over 5 million homes that are more than 60 days behind with 1.2 million houses being foreclosed this year, it appears that it will take years to clear the slate of repoes on the market.
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If there are over 5 million homes that are more than 60 days behind with 1.2 million houses being foreclosed this year, it appears that it will take years to clear the slate of repoes on the market.
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Iwonder posted on 22 Jan 2011 01:55 PM
At the present time there are over 5 million homes that are behind more than 60 days in their mortgage payments and 1.2 million homes will be foreclosed upon in 2011. Does this mean that in Jan. 2012, 3.8 million homes will still be in limbo(some of them now more than 14 months late). Do the additional homes that in 2011 fell behind 60 days or more in their payments get added to the 3.8 million homes from 2010? Is the theory that this number will be less than 1.2 million so that so that the total number of houses in foreclosure goes down. Seems to me that long term interest rates are on the rise and that will depress the housing market and make it more difficult to get a loan. Could the situation worsen instead of improve?
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