As the nation’s home lending situation continues to deteriorate before our eyes, you can count on the local press to keep pushing the “we’re completely immune here” line. (Emphasis mine) Nationwide, Americans are finding themselves unable to make their mortgage payments. Those folks share common traits: They’ve borrowed too much, they’ve lost their jobs or…
Tag: foreclosures
Local Foreclosure Quotes
King 5 News comes at us with some quotes from real people in King County that are part of the ever-increasing group undergoing foreclosure: Sofia DeLeon says she went for an adjustable rate mortgage, but when rates were adjusted, she couldn’t keep up. “It was scary, you know, and I felt really, really ashamed. I…
Foreclosures: Up, Up, and Away!
Aubrey Cohen is on a roll, reporting the uncomfortable truth about the local housing market (granted, with a slight sugar-coating). The latest report is on the ever-increasing number of foreclosures in the Seattle area, another fact that is conveniently ignored by Elizabeth Rhodes at the Seattle Times. The Seattle area continued to follow the national…
King County Foreclosures Keep Rising
April foreclosure stats from RealtyTrac have been released. No surprise: area foreclosures still on the rise. More Seattle-area homeowners are facing foreclosures this month, but the region remains far below the national rate, according to new statistics released Tuesday.The Seattle area, defined as King and Snohomish counties, had 760 foreclosure filings in April, up 16.7…
King County Foreclosures Up 27% YOY
Couched in the mind-numbing bubbly language of a press release from Default Research comes this tidbit of information: “Foreclosures increased by 27 percent in the Seattle area. That is an increase from this time last year,” said Serdar Bankaci, president/CEO of Default Research Inc. Cue the “but we’re coming off of historic lows!” nonsense in…