August 31, 2007
How To Protect You From The Home Foreclosure Avalanche?
According to John Adams from The Georgia Real Estate Report, some ten million adjustable rate loans are slated to undergo a “rate reset†over the next three years, and millions of American homeowners are wondering how they are going to make the new monthly payments, projected to be as much as double their current monthly expense.
The home foreclosure rate has been increased consistently. It doubles from 20,286 in 2001 to 44,981 in 2006 in greater Atlanta area. The expected number of foreclosure homes will be more than 50,000 in 2007 in greater Atlanta area. I believe that the home foreclosure avalanche is just starting. I hope I would be wrong. But, it is coming!
If you are in following situations, you might be in great danger in this avalanche: Read more
Pownce it!