Austin Texas Mortgage» Foreclosures

So You Thought The Foreclosures Were Ending?

admin — Thu, 08 Oct 2009 14:05:37 +0000

While the popular network news stations would like you to think that the recovery is upon us, and therefore the foreclosures and bankruptcies were going to end… the fact is that foreclosures are still likely to be with us in record proportions for the next few years. Check out this article on reuters. It contains a few real nuggets of data that should at least make you think.

The most telling to me is that on average, there is another foreclosure filing in the US every 13 seconds. Yes that’s right… every 13 seconds.

Think about your personal finances. Think ahead of time about how you might be able to withstand a layoff or sudden decrease in income. Better to prepare and not need it, than to be unprepared if it does.

So You Thought The Foreclosures Were Ending? is a post from: Austin Texas Mortgage

Mortagage Woes Visually

admin — Fri, 21 Aug 2009 15:51:57 +0000

Not to add to the bad news about mortgages, but I found an interesting graphic that shows mortgages by State in the United States. The real interesting part of this is that they added a graphic by state of bankruptcies as well for the first half of 2009.

Check it out here.

Mortagage Woes Visually is a post from: Austin Texas Mortgage

13% of Mortgages in Deep Trouble

admin — Fri, 21 Aug 2009 01:06:30 +0000

We all know that the recession has been going on for a while now. And, I think the large majority of people realize that a significant downstream impact of the recession has been a rise in foreclosures. Of course, the impact has tended to be concentrated in several problem states, with the most prominent being California and Florida. This is not to say that other States are immune, but rather that these States are bearing the brunt of it. A recent article in the LA Times quantifies the national problems, and points out that at the moment “the number of homeowners who are either behind on their payments or in foreclosure rose to more than 13% nationwide — a new record.”

Wow.

I hope that you are in good shape with regards to your mortgage. If you are feeling the pinch though it is better to be proactive and research loan modification programs or at least seek out a financial advisor who may be able to you with your specific situation.

13% of Mortgages in Deep Trouble is a post from: Austin Texas Mortgage