24% of FHA Loans written in 2007 in Default

Posted on February 15, 2010
Filed Under Foreclosures | 2 Comments

24% of FHA Loans written in 2007 in Default.  20% of FHA loans written in 2008 are in default.

Recap of findings of the latest RealtyTrac report:

* The foreclosures surged 15% as compared to one year ago.
* For Every 409 U.S. homes – 1 is now facing default.
*Over 87,000 homes were repossessed just in January 2010 alone. That’s a 31% increase over January of 2009.
*The  number of pending foreclosures will increase by nearly 40% to a record  high of 3.5 million as compared to the old record of 2.8 million in 2009.
*Home values plunged even further by 17% in December 2009.
*Fannie Mae  conventional loan delinquency rates have  more than doubled from 2008 year end to 5.3% by the close of 2009.

Comments

2 Responses to “24% of FHA Loans written in 2007 in Default”

  1. real estate agent earnings on May 30th, 2010 5:34 am

    Nice post on FHA loans! This one was a good point: Over 87,000 homes were repossessed just in January 2010 alone. That’s a 31% increase over January of 2009

  2. jenn on December 1st, 2010 3:29 pm

    Very useful info

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