Keller WIlliams Luxury Logo
Home » More Foreclosures On The Way

More Foreclosures On The Way

by | Jul 6, 2009 | Investing | 0 comments

Some economic observers are predicting another wave of foreclosures later this summer or in the fall. That’s because lenders that have held off on foreclosures as part of President Obama’s plan will now move forward aggressively to clear the backlog of troubled mortgages.

Rising foreclosures will further depress home values, says Mark Zandi of Moody’s Economy.com, who calculates that 15.4 million homeowners-one in five of those with first mortgages-will be underwater.

Seth Wheeler, a senior adviser to Treasury Secretary Timothy Geithner, says the government is “unlikely to implement another moratorium.”

But Wheeler said the government plans to put in place some programs that encourage lenders to try some alternatives to foreclosure.

Source: Chicago Tribune, Don Lee

Recent Posts

May Sales Statistics for the Big Island Resort Areas

May Sales Statistics for the Big Island Resort Areas

Apart from condominium sales in Mauna Lani and Waikoloa Beach resorts, real estate activity along the Kona-Kohala Coast was light. Mauna Lani Resort led the market with six condominium sales, followed by three in Waikoloa Beach Resort and one in Mauna Kea Resort....

read more
The Leverage Is Yours, For Now.

The Leverage Is Yours, For Now.

By Dan Polimino The slow season in Hawai`i is May 1 through November 1. There is usually is a little bit of an uptick in activity in the summer months of June, July and August based on summer vacation travel. But, for the most part tourism is down, sales transactions...

read more
April Sales Statistics for the Kohala Coast

April Sales Statistics for the Kohala Coast

Condominium sales picked up in April with eight units closing in Mauna Lani Resort, followed by five closings in Waikoloa Beach Resort and two in Hualālai Resort. Home sales were led by Mauna Kea Resort with two closings, followed by single home sale closures in...

read more

Recent Listings

Call Now