In the past five years the U.S. started the foreclosure process for more than 8.2 million homes. It has completed 4 million of them.
A new report and presentation from RealtyTrac says that there are currently at least 1.4 million U.S. properties in some state of foreclosure. Also, foreclosure activity is expected to rise from the 'artificially low levels of 2011.'
We drew on the part of the presentation that focuses on what the foreclosure market looks like now, and what to expect in 2012. It highlights the California housing market since it's the largest in the country.
The bulk of homes in foreclosure are real estate owned (REO)
There are millions of homes that could soon begin the foreclosure process
28% of US property owners owe more on their mortgage than their property is worth
See the rest of the story at Business Insider
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See Also:
- 10 States Where You Can Get Incredible Deals On Foreclosed Homes
- 10 States That Are Getting Pummeled By Foreclosures
- Here's What Big Companies Are Telling Us About The World Economy
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