From the Associated Press:
One in 10 American households with a mortgage was at risk of foreclosure this summer as the government’s efforts to help have had little impact stemming the housing crisis.
About 9.9 percent of homeowners had missed at least one mortgage payment as of June 30, the Mortgage Bankers Association said Thursday.
That number, which is adjusted for seasonal factors, was down slightly from a record-high of more than 10 percent as of April 30.
In a worrisome sign, the number of homeowners starting to have problems with their mortgages rose after trending downward last year. The number of homes in the foreclosure process fell slightly, the first drop in four years.
More than 2.3 million homes have been repossessed by lenders since the recession began in December 2007, according to foreclosure listing service RealtyTrac Inc. Economists expect the number of foreclosures to grow well into next year.
The number of Americans missing payments and falling into foreclosure has followed the upward trend in unemployment, which has been near double digits all year and has shown no sign of dropping soon.
“Ultimately the housing story, whether it is delinquencies, homes sales or housing starts, is an employment story,” Jay Brinkmann, the trade group’s top economist, said in a statement. “Only when we see a consistent increase in employment will we see an increase in sales and starts, and a sustained improvement in the delinquency numbers.”
Read the whole thing here.
We have been filing paperwork with first Wachovia and now Wells Fargo Financial since early 2010 and have not made a mortgage payment since December 2009 as we waited for our paperwork to be completed and our new loan to start. I have faxed and mailed over 30 pages of documents including bank account statements, Social Security payment statements, health care payments, income statements and house and credit card monthly bills for this year. We also had to get current with all our personal and business taxes and send in copies of 2007 and 2008 to show that we had not received any income from our business
The point of all of this was at no time during our discussions with Wells Fargo going back to at least February of this year were our 2009 taxes mentioned. Now we are being told that there is a new government regulation requiring that we have our 2009 taxes also done or an extension on file with the IRS. If we don’t have any extension for this year or our 2009 taxes completed we will lose our application for the HAMP and then possibly lose our home due to foreclosure.
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From the Associated Press:
One in 10 American households with a mortgage was at risk of foreclosure this summer as the government’s efforts to help have had little impact stemming the housing crisis.
About 9.9 percent of homeowners had missed at least one mortgage payment as of June 30, the Mortgage Bankers Association said Thursday.
That number, which is adjusted for seasonal factors, was down slightly from a record-high of more than 10 percent as of April 30.
In a worrisome sign, the number of homeowners starting to have problems with their mortgages rose after trending downward last year. The number of homes in the foreclosure process fell slightly, the first drop in four years.
More than 2.3 million homes have been repossessed by lenders since the recession began in December 2007, according to foreclosure listing service RealtyTrac Inc. Economists expect the number of foreclosures to grow well into next year.
The number of Americans missing payments and falling into foreclosure has followed the upward trend in unemployment, which has been near double digits all year and has shown no sign of dropping soon.
“Ultimately the housing story, whether it is delinquencies, homes sales or housing starts, is an employment story,” Jay Brinkmann, the trade group’s top economist, said in a statement. “Only when we see a consistent increase in employment will we see an increase in sales and starts, and a sustained improvement in the delinquency numbers.”
Read the whole thing here.
We have been filing paperwork with first Wachovia and now Wells Fargo Financial since early 2010 and have not made a mortgage payment since December 2009 as we waited for our paperwork to be completed and our new loan to start. I have faxed and mailed over 30 pages of documents including bank account statements, Social Security payment statements, health care payments, income statements and house and credit card monthly bills for this year. We also had to get current with all our personal and business taxes and send in copies of 2007 and 2008 to show that we had not received any income from our business
The point of all of this was at no time during our discussions with Wells Fargo going back to at least February of this year were our 2009 taxes mentioned. Now we are being told that there is a new government regulation requiring that we have our 2009 taxes also done or an extension on file with the IRS. If we don’t have any extension for this year or our 2009 taxes completed we will lose our application for the HAMP and then possibly lose our home due to foreclosure.
robert shumake
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"Katy Perry fans will still be able to view the video on You Tube," says a show rep.
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'The Big Bang Theory' is no stranger to sexy sci-fi starlets, having scored geektastic cameos from Katee Sackhoff and Summer Glau in seasons past (wit.
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"Katy Perry fans will still be able to view the video on You Tube," says a show rep.
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'The Big Bang Theory' is no stranger to sexy sci-fi starlets, having scored geektastic cameos from Katee Sackhoff and Summer Glau in seasons past (wit.
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