Real Estate News:
US Homeowners Behind In Payments
At 3 Year Low
Not All Real Estate News Is Bad Anymore!
Yes, things are different these days in that we do get some good real estate news occasionally! For a long time there was simply doom and gloom and nothing but! The silver lining on the cloud was a rumor ... nothing more.
However, here's a report we found in the Bradenton Herald out of Florida that is obviously good real estate news. The number of borrowers who are behind in their mortgage payments is at a 3 year low!
Late payments on mortgages hit 3-year low in 2Q
"By ALEX VEIGA — AP Real Estate Writer. LOS ANGELES — U.S. homeowners are getting better about keeping up with their mortgage payments, driving the percentage of borrowers who have fallen behind to a three-year low, according to a new report."
This Type Of Real Estate News Is A "Leading" Indicator
Remember, these are 2nd quarter figures, and while we are in the 3rd quarter of the year now, this is still a "Leading" indicator ... meaning it's an indicator of what might be coming down the pike.
These numbers DO indicate that we might be looking at fewer foreclosure in the near future. However, we already know there is a backlog of homes "in the process" of forclosure already, though the owners of these loans are trying to find ways to avoid actual foreclosure. As the economy begins to improve slowly we could be seeing the beginning of the end of the foreclosure flood. Remember, though: there is still a long, long way to go.
Real Estate News