Florida 
The Miami Herald reported today that the rapidly declining property values pushed 77,000 homeowners into foreclosure during this latest surge in home-loan delinquencies we saw the first quarter of the year, a signal that instability in the Florida housing market is far from over.
According to a report released Thursday by the Mortgage Bankers Association.,
Jay Brinkmann, vice president for research and economics with the MBA, said ''The problems in
One investor was forced to walk away from a $1.4 million home he began constructing on a Miami Beach waterfront home in 2004. He went into foreclosure in April and is negotiating a short sale, in which a lender settles for a partial payment of the loan.
2 comments:
I wonder if we've seen the bottom of this yet. I guess people will think harder about the 'i'll refinance it for better terms later' gamble.
Well back then the banks were giving loans to anyone even those people that couldn't afford to make the payments. Lets hope the banks are a bit more careful in the future.
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