A day in the life of a REO real estate agent.
A day in the life of a REO real estate agent. At one of our REO’s today and someone crapped in the toilet! Just another day in the life of a REO agent. Excuse the language but thought I would share.
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Understanding why short sales and foreclosures are rising
Risky Home Loans are catching up with a number of homeowners across the United States. Foreclosures rose 45% in January compared to a year ago, and experts don’t see that number getting any better in the near future.
The number of homes entering some stage of foreclosure — from notice of default to bank ownership — increased 45% in January from the same period a year earlier, according to Irvine, Calif.-based Realty Trac. That was one new foreclosure for every 1,117 U.S. households.
Foreclosures are still low on a historical basis, but it has been rising steadily for the past year, Realty Trac reported. Job losses in some regions were to blame, but so, too, were risky borrowing practices that left homeowners little wiggle room on their mortgage payments. And with the pace of appreciation stalling and interest rates rising, many economists and industry observers expect the pace of foreclosures to accelerate this year.