PRESS RELEASE: Closely Analyzes Foreclosure Filings in 2009

| From

SAN FRANCISCO, Calif. -- More than midway through 2009, reports that foreclosure filings are in the millions. When July 2008 foreclosure numbers are compared to July 2009, there is an increase of nearly 32 percent in foreclosure filings. And to date, BankForeclosuresSale reports that more than half of that activity has been reported in Nevada, California, Arizona and Florida.

"The increase in foreclosure filings can no longer be attributed solely to the subprime mortgage mess," Simon Campbell, business analyst for, says. "There are several contributing factors that include: declining home values, rising fuel costs, a weakening economy and sluggish home sales. With all this going on, it's not surprising that many homeowners are no longer able to afford their current mortgages."

Even mortgage investors and other lenders are suffering from the high national foreclosure rate. Prices are being forced down just so loans can be cleared from the books.

And as we continue to move through 2009, predicts that the nation can expect a total of approximately 2.8 million homes in some state of foreclosure by the end of the year.

"While Obama's housing rescue is gaining traction in changing terms of loans for struggling borrowers, it's slow going," Campbell says.

And, with the new housing rescue legislation to take effect in October, analysts and experts are saying that the next few months will be critical for the housing industry.

"Our hope is that home sales and home prices will begin to stabilize and we can begin working on the road to recovery," Campbell adds. "There are some very good bargains to be had out there right now and confidence in the market is slowly returning."

About is a leading online foreclosure listings' service that provides information and advice to real estate investors who range from beginners to experienced veterans. The foreclosure listing database has more than two million listings and updates are made daily.

Its staff of trained real estate professionals is available to assist people via e-mail 24 hours a day, seven days a week. Staff will guide people on how to become successful real estate investors.

All referenced product names, and other marks, are trademarks of their respective owners. Send2Press® is the originating wire service for this story, Copr. 2009.

News Source:
Like, Share, Save this press release:
  TWEET   SHARE   G+   STUMBLE   LinkedIn   Instapaper   Buffer

The content of the above press release was provided by the “news source” (BankForeclosuresSale) or authorized agency, who is solely responsible for its accuracy. Send2Press® is the originating wire service for this story and content is Copr. © 2009 BankForeclosuresSale with newswire version Copr. © 2009 Send2Press (a service of Neotrope). All trademarks acknowledged.

Rights granted for reproduction by any legitimate news organization. However, if news is cloned/scraped verbatim, then original attribution must be maintained with link back to this page as “original syndication source.” Resale of this content for commercial purposes is prohibited without a license. Reproduction on any site selling a competitive service is also prohibited. Information is believed accurate, as provided by news source or authorized agency, however is not guaranteed, and you assume all risk for use of any information found herein/hereupon. This work is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License.
STORY READS for this single page only, as of Oct 26 2016:
[ count retired 8.4.16 ]

back to top
REFERENCES: bank foreclosures sale, foreclosure filings, foreclosure filings, bank foreclosures sale, Simon Campbell, business analyst, leading online foreclosure listings service, news, press release from BankForeclosuresSale, Aug 17, 2009, Banking and Finance, , , , , Closely Analyzes Foreclosure Filings in 2009