ForeclosureDeals Reviews Foreclosure Filing Reports for First Half of 2009

LAS VEGAS, Nev. (SEND2PRESS NEWSWIRE) — The numbers for foreclosure filings for the first half of 2009 are being released and is on top of them. This foreclosure home Web site not only provides an extensive databank of properties, it also provides prominent foreclosure statistics and other current foreclosure news.

After scouring many credible resources, ForeclosureDeals reports that as of mid-July, a total of 1,905,723 foreclosure filings – default notices, auction sale notices and bank repossessions – were reported on 1,528,364 U.S. properties in the first six months of 2009, a nine percent increase in total properties from the previous six months and a nearly 15 percent increase in total properties from the first six months of 2008.

Many of the same states continue to top the list with the greatest number of foreclosure filings. For the first half of 2009, the top 10 were: Nevada, Arizona, California, Utah, Illinois, Michigan, Ohio, Georgia, Texas and Virginia.

There are several factors that continue to contribute to the growing number of foreclosed homes. For instance, data released by the Bureau of Labor Statistics showed that the country’s unemployment rate was 9.5 from May to June, representing a 3.9 percent rise from the previous year. And, upside-down mortgages continue to plague many homeowners as well.

“In order to begin stabilizing this housing market, it is paramount to draw on as many resources as possible to begin the road to recovery,” Adrian McCain, business analyst for ForeclosureDeals, says. “Entities such as lenders, the government and real estate investors must work together to begin a positive housing-market correction.” is doing its part to help the nation work through this foreclosure crisis. With more than 1.5 million property listings, its expert real estate staff works with its clients to find the best deal and fit possible.

“There is definitely an upside to all this negative news. Buyers who are ready to invest just need to know where to look,” McCain says.

For instance, a Miami real estate investor purchased a foreclosed property for $85,000 and sold it two years later for $410,000 proving that it does not lake a large investment to see a large return.

TAGS: home repossessions foreclosure news

This story was issued by and is copr. © 2009 Send2Press® Newswire, a service of Neotrope®.

News Source: ForeclosureDeals


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