If you have been following recent news reports, the public is being told that the real estate market has bottomed out and we are now in recovery mode. Really?!? Well, here's an excellent article written by Jeff Georghan, a Pennsylvania real estate expert, on what has happened, is happening and what is going to happen regarding mortgage delinquencies.
This is one of those posts where I wish I didn't have to write it, but felt it was so important to my readers that I would be remiss not to at least talk about it.
Everyone out there probably knows somebody who is behind on their mortgage payments, looking for alternatives and likely also just finding out that their home's value has dipped below what their loan amount is. I know some within my own personal circles. It's a tough situation for me to advise them as a professional because it's such a personal challenge to their pride and self-worth, not to mention their plans and dreams for the family. The question we're asking is "when is this going to stop and where are we heading?"... read article here
Thursday, October 1, 2009
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