Good News in The Mortgage Foreclosure Arena
Apparently things might be softening up a bit for mortgage companies, or at least for homeowners, in the arena of mortgage foreclosures that we seem to hear about in the news now all the time. A company that started tracking foreclosure rates and housing trends back in 2005 (I know, that’s not that long ago really, so how valid are these statistics, I don’t know?) called RealtyTrac, has now come out and said that foreclosure rates have significantly dropped for the month of September.
As for the reason they are unsure, and are also quick to point out that although the September numbers appear to have dropped, in a good way, they are still significantly higher than any other stats the company has tracked in its short history of tracking mortgage foreclosure trends.
The worst hit state still remains California, where properties and the cost of living is sky high. Heck, you practically have to make at least a half a million a year just to live comfortably in California, whereas in my home state of Ohio, this would afford you a very nice house and property, plus a comfortable disposable income.
Other hard hit states are Florida, and also my hometown of Ohio, who follows with much less of a staggering figure, but still ranks as one of the worst foreclosure states for the time being. I’ve seen a lot of empty lots at developments, and it seems like way too many new ones are coming in, so I can see why we have a high foreclosure rate here, or at least an occupancy problem.
