“The volume of foreclosure filings reported in May was 16 percent higher than a year ago, according to RealtyTrac, and default notices, schedule auctions or bank repossessions (REOs) were reported on 126,868 U.S. properties, marking a 19-month high for filing volume.”
They say the increase in May was driven primarily by a jump in bank REOs, which totaled 44,892, a 58 percent jump in REOs from a year ago, but what caused the default notices to increase to a 19-month high?
Last month Stephanie Hoops at The Ventura County Star wrote “Driven by an uptick in bank repossessions and auction sales, foreclosure filings in Ventura County jumped nearly 20 percent in April from where they were a year ago, market researcher RealtyTrac reported Thursday.”
I wonder sometime if we are being fed a line about the strength of the economy.
Don’t be a statistic. If you are experiencing trouble paying the mortgage, get some help. You don’t just wake up one morning and lose your house through foreclosure. There are signs of approaching trouble.
- You are having difficulty paying the mortgage
- Maybe, you took out one of those adjustable rate mortgages and now you can’t afford the new rates.
- You have almost nothing saved for emergencies. The truth is 25% of Americans have little or no savings…
- You’ve been using credit cards to get to the next pay day for a while. And each month you can only afford to pay the minimum on your cards.
- You are neglecting doctor and dental visits.
Revisit the post we wrote titled Foreclosure Filings in Ventura County Jumped. If you just feel trapped, give Coal to Cash a call. We might be able to help.
Coal to Cash Homebuyers, Inc. is here to help homeowners out of any kind of distressed situation. As investors, we are in business to make a modest profit on any deal, however we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. Just the simple honest truth about your home and how we can help you sell it fast to resolve any situation.
Give us a call today at 805-426-9988 to let us know what YOU need help with!