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  1. Copied this from BBC website (business section) 13 January 2011 Last updated at 14:47 • US banks 'foreclosured on record 1m homes in 2010' Foreclosure filings were up 1.67% from 2009, figures show Banks repossessed a record one million US homes in 2010, and could surpass that number this year, figures show. Foreclosure tracker RealtyTrac said about five million homeowners were at least two months behind on their mortgage payments. Foreclosures are likely to remain numerous while unemployment remains stubbornly high, the group said. Among the worst hit states were Nevada, Arizona, Florida and California, once at the heart of the housing boom. Peak ahead Nevada had the highest foreclosure rate for the fourth year in a row, with one in 11 housing units receiving a foreclosure notice, and RealtyTrac said more than half the nation's foreclosures occurred in Arizona, California, Florida, Illinois and Michigan. RealtyTrac said 2.9 million US households were subject to a foreclosure filing last year, up 1.67% from 2009. "2011 is going to be the peak," senior vice-president Rick Sharga told the Associated Press news agency. Foreclosures slowed toward the end of 2010 amid revelations that banks had based the proceedings on improper documentation, but the pace is likely to rebound in the first quarter of 2011, Mr Sharga said.
  2. Clearly theyre daytime photos which means everyones at wark. dahhhhh !
  3. Viewed a house twice in the last 2 weeks. Went to see the bank that I have my business account with about a mortgage. My business has been trading for less than a year and the books are showing a very good net profit already (have them done monthly). I have a 40% deposit and my income can easily cover the amount I want to borrow. The bank has said NO . They want at least 1 years accounts ( I'm 3 months away from that) Tried a few other companys and they want 3 years accounts Whats the risk with me? I think I'm quite a good example of how bad it is and how we could see more of a crash as desperate sellers become even more desparate. The banks aint lending !
  4. Come on then ...........Some of you financial wizards............whats going on with the markets?
  5. I'm even more convinced of prices falling more. The wife and I have found a house thats come down a third since peak. We trotted off to the bank for a mortgage application with our 40% deposit in hand. Not sure if were going to get one or not because I'm self employed and I cant produce 3 years accounts. The fact that I'm trying to get a mortgage from a bank that I own a share in (Natwest, we all do) is even more annoying.
  6. UK goverment spending 8 bn on rail network Warren Buffet spent 28 bn on a train set in the US Is rail the way forward?
  7. If they put VAT on food it would give them a massive income? Do any other countries have VAT on food?
  8. I'm not a tin foil hat wearer but this is quite scary. This is the second time in just over a week that the express have been squirting this crap out. Is some of the media controled that much? or has the express got a lot of VI's in property?
  9. Totally agree................MODERN DAY WORK HOUSES
  10. I live in a sea side town in South Devon. 10 years ago there were a few holiday cottages, now over half the town is holiday cottages. To many people jumping on the same idea again. It will drive down holiday prices and house prices eventually.
  11. Can you remember the film Brewsters Millions?
  12. In the South Devon town I live in there used to be 3 pages of houses in my price range. Now theres 7 pages with lots of reductions BRING IT ON ! plleeeeeaasese?
  13. What would the approx monthly mortgage payements be on a statrter home around £150,000 at these 6% ish deals. Would a £20,000 income be able to afford it?
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