Thursday, January 14, 2010

Mortgage defaults hit record in 2009


RealtyTrac reports that mortgage defaults rose 21% in 2009 compared to 2008:
Almost 3 million homeowners received at least one foreclosure filing during 2009, setting a new record for the number of people falling behind on their mortgage payments.

RealtyTrac, the online marketer of foreclosed homes, reported that one in 45 households — or 2,824,674 properties nationwide — were in default last year. That's 21% more than in 2008, and more than double 2007's total.

5 comments:

  1. Why is Lionel Luthor Senior VP of RealtyTrac?

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  2. How much more blood is there it bleed? At this rate, the patient (i.e., housing) will be bled dry within the next year or two.

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  3. I read that the foreclosures are hitting records more slowly; so we have that going for us, which is nice.

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  4. Depends on where you live. In DC proper, they peaked in 2008 and are down 8% YOY.

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