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23.1 Percent of Florida Loans are Delinquent or in Foreclosure
Here’s the link to a short article from Miami Herald. Florida has an unbelievable rate of nearly one quarter of its mortgage loans delinquent. In other news, the US government is struggling to decide what to do with nearly one hundred thousand homes now owned by FNMA and Freddie Mac. Any mass effort to sell [...]
More Loans Underwater, CoreLogic Reports
CoreLogic reported that 11.1 millions loans are underwater, where the homeowner owes more than the value of their home. This is an astounding 23% of all mortgage loans. So long has prices continue slide, this statistic will continue to prevent a recovery of the U.S. real estate market. Another factor in declining prices: the difficulty [...]