KING 5 reports that the increase in foreclosures is putting stress on one local non-profit that offers assistance to distressed mortgage owners. For homeowners caught up in the mortgage meltdown, finding help to save their homes is getting tougher. A Seattle non-profit group helps those facing foreclosure, but the small office is overwhelmed. … The…
Tag: foreclosures
August Foreclosure Update (with Charts)
As a follow-up to last Friday’s foreclosure news, let’s take a look at a couple charts of local foreclosures. I contacted the folks at RealtyTrac to request historical foreclosure data for the Seattle area, and they were kind enough to provide me with their foreclosure data for King + Snohomish counties going back to April…
Seattle-Area Foreclosures Rising Rapidly
Right on schedule, as home price declines in Seattle really start in earnest, foreclosures begin to “soar.” Seattle-area foreclosures were up 54 percent in August from a year earlier, according to a new report. The area, defined as King and Snohomish counties, had 1,185 properties with foreclosure filings, up 15 percent from July, according to…
Desperate Home “Owners” Overwhelm Local Counselors
Wait a minute… I thought only California had lots of people that took out dangerous loans, and are now at risk of foreclosure. Counselors overwhelmed with calls from desperate homeowners Housing advocates and lending counselors say they’re being overwhelmed with calls for help from desperate Seattle-area homeowners, many on the brink of foreclosure. … As…
Tens of Thousands of Subprime Loan Resets Coming to Seattle
Interesting story from Kirsten Grind over at the Puget Sound Business Journal: Experts see more subprime-loan pain ahead Another big wave of subprime mortgages will see interest rates reset to a much higher rate over the next six months in the Seattle area, an indication that the Puget Sound region might still be facing further…