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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?


To: tonka552000 who wrote (86624)9/25/2008 11:58:22 AM
From: rich evans  Read Replies (2) | Respond to of 116555
 
There are 5 million delinqencies total right now out of 50mill mortgages or 10%. Of those 5 million delinqencies , about 400,000 are presently in foreclosure proceedings. The rest are at the 30-60-90 etc day delinquent stage but in yet in foreclosure. The problem is the rollover rate is about 100% because of the reduction in homevalue and difficulty in getting refinancing . A short sale is used to some extent.
Rick