The Future is Looking Brighter

Well, we all have seen the news. The media continues to spread Gloom & Doom. But what are the real facts about the current Foreclosure Situation. Here are some recent stats that we think you will find interesting!

* 97.4% of all mortgages in the US are current. That means that 2.6% are either late or in foreclosure. It is estimated that .6 are late and 2.0 are in foreclosure.

* 75% of all foreclosures occur in 5 states

* Florida – heavy investment market
Michigan – automobile industry effects
California – impacted by soaring values in recent years
Nevada – heavy ARM market
Arizona – heavy ARM market

* The remaining 25% of foreclosures are spread over 45 states.

* In Colorado – there currently are 10,000 foreclosures, but many are multiple properties owned by the same person – so there are not 10,000 PEOPLE in default. The cities where there are the most foreclosures in Colorado are Denver and Pueblo.


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