Friday, February 12, 2010

Snohomish County Foreclosures January 2010

We saw the January foreclosure rates jump up because of the November-December break. Perhaps the banks chose to not foreclose during the holidays. The average of the three months together is 183 per month.

The foreclosure rates for the last 6 months are running about 200 per month. The next 6 months should give us a better indicater of whether Obama's Home Affordability Mortgage Plan (HAMP) is working on home mortgage modifications as new orders come down from the White House putting pressure and timelines on the banks to quit sitting on the modfication applications and push them through.

We hope the banks are finally see the light "loan modifications cost less money than foreclosures"!

1 comment:

Anonymous said...

Great Stats