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Mortgage Arrears And Repos Are Going Up Up And Away

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San Franciso

By Sue McAllisterMercury News

More Bay Area homeowners had serious trouble paying their mortgages and went into default as 2005 drew to a close -- evidence that a cooler housing market can hurt the financially strapped.
Lenders sent 2,292 ``notices of default'' to owners in the nine-county area in the last quarter of 2005, DataQuick Information Systems reported Thursday -- 11 percent more than a year earlier. The notices are the first step in the formal foreclosure process, and typically are sent when a homeowner has failed to make payments for three months or more.
Overall, the number of Bay Area default notices remains low.
But defaults are likely to keep rising
, according to the real estate information firm.
Default rates tend to move in the opposite direction of home appreciation rates. Now that price appreciation is slowing, Karevoll explained, owners are accumulating less equity in their homes, and those in financial distress are more likely to fall into foreclosure.


Orange County

Mortgage default notices rise 34% in quarter; 50 lose homes

Analyst says uptick in O.C. is merely a result of reduced home-price gains.


The Orange County Register

Mortgage default notices increased 34 percent in the fourth quarter of 2005
, DataQuick Information Systems reported Thursday.
That's a greater increase as a whole than in California, which saw these notices of default rise nearly 16 percent in a year.


More Builders Entice Home Buyers With Upgrades, TVs
Publication date: 2006-02-07
By Noelle Knox
With the real estate market softening in many areas, more developers are trying to entice new-home
buyers with freebies, from swimming pools and backyard landscaping, to flat-screen TVs and media rooms.
In December,
40% of home builders said they were offering some type of non-price incentive, up sharply from 28% in November 2004
, according to the National Association of Home Builders.


Stocks open lower on Toll Brothers warning
NEW YORK (AFX) -- U.S. stocks opened lower Tuesday as a warning from
homebuilder Toll Brothers raised concern the housing market, one of the main
drivers of the economy, may be
cooling off

The West Coast and East Coast Bubbles are beginning to wobble. The economic miracle created by Gordon Brown will just turn out to be a credit inflated bubble that burst when its victims could borrow no more. Get ready for the . . .


HPC 2006.

Edited by Realistbear

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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