- Nashville Short Sales Home Page
Nashville Brentwood Franklin Cool Springs Nolensville Murfreesboro Smyrna Spring Hill Hendersonville Gallatin Mt. Juliet (Mount Juliet) Short Sales
Nashville Short Sale Help and Foreclosure Help
- Search Nashville TN MLS Listings
- Contact Nashville Short Sales and Foreclosures Specialist
Thursday, March 5, 2009
Reuters: One in 8 U.S. homeowners late paying or in foreclosure
According to this Reuters article, One in 8 U.S. homeowners late paying or in foreclosure, 1 out of 8 US homeowners is behind on their mortgage, or already in foreclosure. This is absolutely stunning. According to the article even prime loans are experiencing higher foreclosure rates caused by job losses and overbuilding. The author of the article did not seem optimistic that Obama's foreclosure plan would work. I agree. This will certainly lead to more short sales and foreclosures and result in hurting the housing market even more. Since Tennessee has a higher than average number of foreclosures I expect the TN housing market to be hurt more than average over the next several years.