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Foreclosure Activity Up and Mortgage Defaults To Rise

Posted on: April 27th, 2007
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While we have paid close attention to rates, fraud, and ‘The Housing Bubble’ all is not necessarily well in other parts of the mortgage world. According to RealtyTrac, a foreclosure online site out of Irvine, California, there has been a 25 percent increase in foreclosure activity in the last year. The site’s Foreclosure Market Report states the nearly 850,000 properties entered some state of foreclosure last year - up 25 percent from the previous year. These figures are based on a database of over 1/2 million properties in 2000 counties nationwide. More on this story at

http://www.mortgagenewsdaily.com/1252006_Mortgage_Default_Rate.asp

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