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Discussion Forum : News and Current Events : Homes lost to foreclosure on track for 1M in 2010

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Joined: 2002/12/11
Posts: 37633
"Pilgrim and Sojourner." - 1 Peter 2:11

 Homes lost to foreclosure on track for 1M in 2010

More than 1 million American households are likely to lose their homes to foreclosure this year, as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans.

Nearly 528,000 homes were taken over by lenders in the first six months of the year. If foreclosures continue at that rate, the yearly number would eclipse the more than 900,000 homes repossessed in 2009, RealtyTrac Inc., a foreclosure listing service, said Thursday.

"That would be unprecedented," said Rick Sharga, a senior vice president at RealtyTrac.

Lenders have historically taken over about 100,000 homes a year, he said. ...

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SI Moderator - Greg Gordon

 2010/7/16 13:47Profile

Joined: 2005/2/24
Posts: 2732

 Re: Homes lost to foreclosure on track for 1M in 2010

How very sad.

Perhaps, in this wave of loss and grief, there is an opportunity for demonstrating the love of Christ.

"I was a stranger, and ye took me in."



Mike Compton

 2010/7/16 14:41Profile

 Re: Problem or opportunity?

Yes sounds like a good opportunity to show God's love. The harvest fields are indeed ripe for harvest. The question is who will open their houses for strangers??? Galations 2:20 show your love.

 2010/7/18 23:22

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