The Shocking First Quarter Statistics
I don’t know if you saw it. If you haven’t, please sit down as you read this. This is truly devastating.
Last week some startling statistics came out. 175,199 homes were lost to foreclosure in March. This was a new monthly record.
In the first 3 months of this year, lenders have taken over nearly 370,000 homes. That was an increase of 76% over the total in the first quarter of 2008. That was also the highest quarterly total of completed foreclosures since this current foreclosure crisis started.
There were also more than 600,000 pre-foreclosure filings in the first quarter of 2009. A pre-foreclosure filing is the first step leading to foreclosure. This is also the most in any quarter since this crisis started.
What was the major reason for the increase? Many of the lenders had had a moratorium on foreclosure action while they waited for the government to finalize what steps it wanted lenders to take to help homeowners save their homes. The government released its plan in early March. Shortly after that the lenders lifted their moratorium.
Are you ready for this? The numbers are expected to continue to rise in the coming months.
This crisis is out of control.
Remember – no Lender wants to take over a home. They lose on this.
If you want to save your home from foreclosure, start to work on it immediately. I can never emphasize that enough. Get help from a lawyer or an expert in this field. They know what they are doing. They can tell you what you need to do to save your home.
You can also check out my EBook at www.stopforeclosureanswer.com. It contains ideas for you to take charge of the foreclosure process and to keep your home – the home you always wanted and have worked so hard for.
Much Success,
Mark Elkins
This is quite helpful and I will see that I can implement that. I really hope that this will save my home.