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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: JBTFD who wrote (82606)	6/12/2007 4:04:44 PM
From: Broken_Clock	Read Replies (1) of 110194

How they gonna reset? this is worth a repost ... ==== Facing Foreclosure Fears Written by Jason Kobely, Internet News Producer Jon Baird's Report The numbers are startling. Nearly 20 percent of Sacramento homes are worth less than the value of their mortgage. Some 3,400 Sacramento County property owners faced foreclosure in the first quarter of 2007, up nearly 200 percent from 2006. Sacramento County ranks in the top ten nationally in the number of foreclosures. Amid dire predictions that the foreclosure trend will continue to rise, the California Association of Mortgage Brokers held a free homeowners forum in Stockton Saturday, aimed at helping new homebuyers avoid the foreclosure nightmare. "I think a lot of people don't bother until it's too late," event sponsor state Senator Mike Machado said. Dozens of anxious homeowners attended the forum, most looking for those crucial tips from real estate experts on keep foreclosure fears at bay. Real estate investor Tony Sedillo said while he can make money if the foreclosure trend continues, watching families leave their homes under the financial strain is excruciating to see. "This one woman was paying $2,000 a month and is now paying $5,000 a month after a year," Sedillo said. "Who wants to profit when a little girl is looking out the window and the parents are packing up?" Experts said the most important tip for borrowers facing mortgage troubles -- call their lender immediately. Copyright 2007 News10/KXTV . All Rights Reserved.

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