Foreclosure Postings Rise in April, 2011

Yes, we do have a whopping 16% increase for the April foreclosures compared with a year ago. There was a dip of 4% over the first 4 months of this year so that is good. Roddy states” The numbers appear to be moving in the right direction, but things are so unstable.”

I still think the Banks should have dumped the majority of the foreclosures in the first 6 months of last year, the tax incentive would have encouraged more buyers out to gobbled up the foreclosures. Remember also last year the Banks weren’t dumping them on the market because the government was taking care of their losses.

Roddy being quoted again, “foreclosure postings won’t improve until unemployment goes down and the number of homeowners ‘underwater’ on their mortgages..meaning they owe more than the house is worth..stops increasing.” Can’t pay your house payment without a job, especially when you did a 100% financing and have no equity or just the fact that if you bought in last 4 years, our market is flat so where are you getting the money for all the closing costs in trying to sell?

We would be happy to give you some options if the job market is still hurting and clouding your future and you own a house.