US foreclosure filings surge 65% in April

[run2Jesus]

http://news.yahoo.com/s/ap/20080514/ap_on_bi_ge/foreclosure_rates

[run2Jesus]

LOS ANGELES - More U.S. homeowners fell behind on mortgage payments last month, driving the number of homes facing foreclosure up 65 percent versus the same month last year and contributing to a deepening slide in home values, a research company said Tuesday.

ADVERTISEMENT

Nationwide, 243,353 homes received at least one foreclosure-related filing in April, up 65 percent from 147,708 in the same month last year and up 4 percent since March, RealtyTrac Inc. said.

Nevada, Arizona, California and Florida were among the hardest hit states, with metropolitan areas in California and Florida accounting for nine of the top 10 areas with the highest rate of foreclosure, the company said.

Irvine, Calif.-based RealtyTrac monitors default notices, auction sale notices and bank repossessions.

One in every 519 U.S. households received a foreclosure filing in April. Foreclosure filings increased from a year earlier in all but eight states
more at above link.....

[Heartstorm]

Well you'd think that the banks would stop forclosing ???What good will it do them to have millions of empty houses, they should stop and rework loans and do something to help people keep thier homes. Let them slide a year on payments until this crazy economy settles down ...... Maybe then we will be gone :pray
I am soooo very glad the Lord did not allow me to keep my home! I prayed and prayed that somehow during the divorce I would be allowed to keep my house. It didn't work and I had to sell it and move, Through His guidance I managed to get this place and have no mortage. So even thought things get tight I do not have to worry about keeping a roof over our heads. Praise God !!

[chel0524]

Well you'd think that the banks would stop forclosing ???What good will it do them to have millions of empty houses, they should stop and rework loans and do something to help people keep thier homes. Let them slide a year on payments until this crazy economy settles down ...... Maybe then we will be gone :pray
I am soooo very glad the Lord did not allow me to keep my home! I prayed and prayed that somehow during the divorce I would be allowed to keep my house. It didn't work and I had to sell it and move, Through His guidance I managed to get this place and have no mortage. So even thought things get tight I do not have to worry about keeping a roof over our heads. Praise God !!

I agree! What are the banks going to do with all the homes? Everyone would be better off if they would decalre a time period with no payments so that people can catch up a little.

[writersmom]

Well you'd think that the banks would stop forclosing ???What good will it do them to have millions of empty houses, they should stop and rework loans and do something to help people keep thier homes. Let them slide a year on payments until this crazy economy settles down ...... Maybe then we will be gone :pray
I am soooo very glad the Lord did not allow me to keep my home! I prayed and prayed that somehow during the divorce I would be allowed to keep my house. It didn't work and I had to sell it and move, Through His guidance I managed to get this place and have no mortage. So even thought things get tight I do not have to worry about keeping a roof over our heads. Praise God !!



I am right there with you. We lost our home in kind of a weird way about 4 years ago. Basically we were having some severe problems with close family, that were causing extreme stress. After much prayer, God led us to leave state and foreclose on our home. We were barely making it since dh had been disabled several years before. We were hanging onto the house but unable to keep up with repairs.

It took a couple years, but we are now settled in a nice-sized house, with a nice yard and a great landlord. We don't even have to worry about yardwork.

I hated leaving my home but God has worked it out for the good, like he always does, though it is so hard to see when you are going through it.

[lilbitsyspider]

Well you'd think that the banks would stop forclosing ???What good will it do them to have millions of empty houses, they should stop and rework loans and do something to help people keep thier homes. Let them slide a year on payments until this crazy economy settles down ...... Maybe then we will be gone :pray
I am soooo very glad the Lord did not allow me to keep my home! I prayed and prayed that somehow during the divorce I would be allowed to keep my house. It didn't work and I had to sell it and move, Through His guidance I managed to get this place and have no mortage. So even thought things get tight I do not have to worry about keeping a roof over our heads. Praise God !!

Why should they stop? They aren't paying. They've gone at least 4 months without paying by the time the foreclosure happens they could have lived in the porperty 6 months. Most of us have to pay rent/mortgage for shelter. Maybe the banks should rework the loan so they can keep the house and honor their debt. There are things the bank could do if they really needed the money and secure the life of the loan. The fact they don't just proves it's not as bad for their bottom line as it is for those who are being foreclosed on.

[dpetty]

heard on the radio that foreclosures are backlogged in some states as much as 6 months and others it takes 2 months just to file a foreclosure, if a person wanted to save their home they could use this time to catch up.

[lilbitsyspider]

heard on the radio that foreclosures are backlogged in some states as much as 6 months and others it takes 2 months just to file a foreclosure, if a person wanted to save their home they could use this time to catch up.

My thoughts exactly, instead a good portion of them start spending that money elsewhere, not even trying to keep their houses. Not to mention some of the damage they do to the houses they are having to leave.:ohno

[chumly175]

Well I have to say that it's not very hard to catch up with the payments. If you missed and you are in foreclosure the banks want all that money up front or at least half. The payment plans they setup is even worst, you actually would be paying more a month. No one can do that if they already past the 4 month time period. Oh, I just love how the banks then say can you borrow the money from a family member or friend!! Hello they are in the same boat!! (I use to try to help help people with their foreclosure and I just got tired fighting with the banks)