Wednesday, November 25, 2009

Avoid Foreclosure

Looking at these statistics helps to understand the current housing market in our country. If you are behind on your mortage payments, or just know that you soon will be, call me. I have the experience to help you determine the best options available. It may be a loan modification, deed in lieu or short sale. I can help you make an informed decision. 706-296-4395

Mortgage Deliquencies - National Numbers
Distressed Property Institute, LLC ©2009

Quarter 3 - 2009
All Mortgages:
4.38% in Foreclosure 9.94% in Default (30+ days late) 14.32% Total
Prime Mortgages:
3.20% in Foreclosure 6.94% in Default (30+ days late) 10.14% Total
Subprime Mortgages:
15.35% in Foreclosure 26.66% in Default (30+ days late) 42.01% Total
FHA Mortgages:
3.32% in Foreclosure 15.04% in Default (30+ days late) 18.36% in Default
VA Mortgages:
2.29% in Foreclosure 8.47% in Default (30+ days late) 10.76% Total in Default
Mortgage Bankers Association
National Deliquency Survey
Based on 44,000,000 mortgages - Non -Seasonally Adjusted
Underemployment Rate
According to the U.S. Bureau of Labor Statistics, the seasonally adjusted underemployment rate,
(comprised of the total unemployed plus all marginally attached workers, plus total employed parttime
for economic reasons) for October 2009 was 17.5%.
Unemployment Rate
According to the U.S. Bureau of Labor Statistics, the seasonally adjusted unemployment rate for
October 2009 was 10.2%. The highest rate ever recorded by the Bureau was 10.8% in Nov/Dec 1982.
CDPE Member Survey:
• Since becoming a CDPE, the average time for agents to complete a short sale transaction
decreased by 49%.
• On average, CDPEs are able to keep homeowners in their homes more than twice as often
as losing properties to foreclosure.