{"id":324,"date":"2006-08-07T14:39:00","date_gmt":"2006-08-07T21:39:00","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=324"},"modified":"2006-08-07T14:39:00","modified_gmt":"2006-08-07T21:39:00","slug":"area-foreclosures-on-the-rise","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2006\/08\/07\/area-foreclosures-on-the-rise\/","title":{"rendered":"Area Foreclosures On The Rise"},"content":{"rendered":"

Even though our area doesn’t have as high of a foreclosure rate as you might expect<\/a>, the toxic loans and suicide financing are still having somewhat of an effect<\/a>…<\/p>\n

In Seattle’s hot real estate market a growing number of people are losing their homes in foreclosure.<\/p>\n

For most people losing their homes, there are several investors waiting to snap them up.<\/p>\n

In Washington state the foreclosure rate is up nearly 30 percent over last year, and more than 1,000 homeowners have been going through foreclosure this past year.
…
Why are more people losing their homes?<\/p>\n

Experts say interest only and adjustable rate loans are enticing buyers into trouble.<\/p>\n

“So they can get into their dream house when maybe they should have waited a few years when their income went up and not taken these risks,” said lender representative Karen Gibbon.<\/p><\/blockquote>\n

In other news, experts say that when an egg is dropped on the sidewalk, it is likely that it will break. Who can blame those overeager buyers though? I mean, they’re just trying to live out The American Dream<\/a>™, right?<\/p>\n

(Linda Brill, KING 5 News<\/a>, 08.04.2006<\/i>)<\/p>\n

Please read the rules<\/a> before posting a comment.<\/div>\n
\n
Seattle Bubble Tip Jar<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Even though our area doesn’t have as high of a foreclosure rate as you might expect, the toxic loans and suicide financing are still having somewhat of an effect… In Seattle’s hot real estate market a growing number of people are losing their homes in foreclosure. 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