The number of default notices mailed to homeowners who were behind on their mortgages soared in August to a 9-month high — the largest month-to-month increase in 4 years, according to data released by RealtyTrac Inc. on Thursday.
Foreclosure filings, which include those late-payment notices plus auction announcements and bank repossessions, rose 7% in August compared with July, hitting a total of 228,098 U.S. properties.
These foreclosure properties will be pouring into the already-battered US Housing Market. Then you know what to expect. Yes, the housing prices will fall again--- farther more.
Therefore if you are to sell your house, the time is NOW, before the price goes down more. The sooner the better, for many Economists predict that the US housing prices will never come back for another 2 years.
It's true that it is hard to sell a house right now in this depressed market. But if you want to sell your property fast, there is always a way.
As local investors in Brooklyn, We Buy Houses ALL CASH in Any Condition. Please take a look at our website for more details.
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