Thursday, June 23, 2005

Number of Forclosures Declines

According to the Mortgage Bankers Association, nearly 96 percent of all homeowners in the United States made their mortgage payments on time during the first quarter of 2005. The percentage of loans in foreclosure last quarter also declined, falling to 1.08 percent from 1.29 percent during the first quarter of 2004. This trend is expected to continue for the near future, according to the Mortgage Bankers Association.

So, if you are looking for a great deal on a forclosure, they might be pretty hard to come by. With values increasing, and the availability of loans for just about anyone, forclosure truly is a last resort.


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