The Second Wave of Foreclosures is Coming

In April, the number of homeowners faced with foreclosure sky-rocketed to 65% as compared to the same month last year.   Across the nation, last month, 243,353 homes received one foreclosure type of filing.   If you compare these statistics to March of this year,   these statistics went up 4%.

There are reports that efforts by our government and the mortgage industry  trying to turn things around, can’t keep up with the rising number of troubled homeowners.

You could say that the government has missed the boat on this one.  

Even if the homeowner aid package passes both houses in Congress and they come to some kind of compromise with the President, it will probably be too late for homeowners who have adjustable-rate mortgages scheduled to change to higher rates in the coming months.

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