Water Cooler

Still curious where this data comes from . . .

66.31.244.121

JoshT

In Reply to: RE: Foreclosures just under 9% - do you know anyone? posted by Awe-d-o-file on March 09, 2008 at 14:34:25

Just checked The Boston Globe, The Wall Street Journal and CNN.com and couldn't find any new foreclosure statistics beyond the ones I described below on 2007 Q4 numbers of between .83% and %2.5% (approximately).

Follow Ups:

RE: Still curious where this data comes from . . . - Awe-d-o-file 09:27:43 03/10/08 (1)
Me too. I was curious of the data too. It was the point of my post. It was all over the news Friday. Very hyped with "the worst since the great depression" and it was posing the possibility of a government aid plan like during the depression. Today as I search print media to validate it and I cannot. All I can find is this: "The delinquency rate was 5.82 percent and foreclosure rate 2.04 percent of all outstanding loans " from the Mortgage Bankers Assoc. re the 4th qtr of 2007. Dag nab it! Oh well...

ET
- Dag nab it? :-) - JoshT 09:43:37 03/10/08 (0)
  Phew, it's a relief actually, though of course the problem is very real and, most likely, getting worse.
RE: Still curious where this data comes from . . . - plantsman 06:59:37 03/10/08 (3)
I can't help you with this specific number but I linked to the Mortgage Banker's Association site which indicates that for the fourth quarter of 2007 nationally almost 6% of mortgages were delinquent and another roughly 2% were in foreclosure. I would expect that in some of the worst hit areas the numbers are substantially worse and I also would anticipate rising numbers for the next two quarters as more ARMs reset.

There is an interesting N Y Times article here:
http://www.nytimes.com/2008/02/12/business/12credit.html?_r=1&hp&oref=slogin
- Mortgage Bankers Association (Open in New Window)
- Thanks. Those were the numbers I found too. - JoshT 07:30:51 03/10/08 (2)
  They are bad, but a far cry from a 9% foreclosure rate. I think perhaps the 9% is a combination of foreclosure and delinquent payments, which may or may not lead to foreclosure.
  
  I agree - it's bad and going to get worse. But we have to be careful with the facts we post here. 9% of mortgages are not in foreclosure.
  - Addendum - plantsman 08:27:27 03/10/08 (1)
    The attached shows the worst hit areas by zipcode in raw numbers as of last December. It looks like California, Nevada, Florida and Michigan are really bearing the brunt of this.
    - 100 Worst (Open in New Window)
    - RE: Addendum _ I'd say Vegas! - Awe-d-o-file 09:23:43 03/10/08 (0)
      Since 16 of the top 20 are from there...
      
      ET

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