April 28, 2006, Newsletter Issue #13: U. S. Foreclosures Continue to Rise

Tip of the Week

While most of the U.S. has been enjoying a healthy and robust real estate market with minimal "days on the market", many states in the country's heartland are reeling from record foreclosure numbers.

States like Ohio, Texas, Georgia and even Florida are suffering from economic situations created by the shift from industrially-based economies to service. As the industrial jobs are lost, in areas where new jobs are created, they are not of the same wage and benefit level.

In addition to job loss, there are many homeowners who were victims of predatory lending or who secured Interest Only loans or other similarly risky financing options.

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