Shocking isn’t it? According to some news outlets the hope and change president has precipitated change that no one wants and taken the hope of many American homeowners! Are these allegations true? If you look at the current rate of foreclosures across the country and the settlement between the states and big banks (orchestrated by the Obama administration), it definitely looks plausible.
This brings up the real question of the day, what are homeowners and potential homeowners to do? Foreclosures are up in New Jersey by 118%, Florida is at 83% and Pennsylvania suffered a 97% increase. These are just a few states seeing record number foreclosures; overall, 17 states have seen dramatic increases.
With this kind of depressing news, floating around buyers may be tempted to take cover and wait out the storm. Which is exactly the wrong thing! In truth, the time has never been better to seek out real estate deals. Foreclosure listings are filling up but that does not mean a buyer cannot find a great deal. Prices are down and credit is hard to come by, but rent to own, HUD homes and short sales provide huge opportunities for the person brave enough to seek them out.
If that sounds like taking advantage, it is not, homeowners facing bank foreclosures are many times desperate to get out from under mortgage payments and are highly motivated to make a deal! Take the time today to examine the foreclosure listings across the country and perhaps find your dream home.
Jack Philson, an analyst at RealtyStore.com, has posted an article discussing both Romney and Obama and their statements on the bank foreclosures crisis.