Yep, the number of homeowners ensnared in the foreclosure crisis grew
by more than 70 percent in the third quarter of this year compared
with the same period in 2007, according to data released today.
Nationwide, nearly 766,000 homes received at least one foreclosure
related notice from July through September, up 71 percent from a
year earlier.
By the end of the year, they expect more than a million bank-owned
properties to have piled up on the market, representing around a
third of all properties for sale in the U.S.
That's bad news for anyone who lives nearby and wants to sell their
home. While foreclosure sales are booming in many areas, those
properties are commanding deep discounts and pulling down neighboring
property values. It has a pretty significant impact in terms of pricing.
More than 250,000 properties were repossessed by lenders nationwide
in the third quarter, 81,000 of which were taken back last month.
That's why the new funding program for buying short sales (without
use of the buyer's credit) is exploding the business over at
www.FundsForShortSales.com and is bringing me in over $8000 per
month by just sending people to one website. And for my readers
who are working this business, we have our conference call this
evening at 8pm-Central. We'll be sharing more tips on how to
make this business even more profitable for you and hopefully
surpass my earnings. Remember, I am only 4 months into this and
it is only getting better.
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