September 24, 2009

August 2009 Foreclosures decrease slightly but Not by Much

Filed under: Uncategorized — americanforeclosures @ 12:56 am
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From July to August of this year 2009 foreclosures stayed decreased slightly. Florida, California, Arizona, Michigan, Idaho, Utah, Colorado, Georgia and Illinois comprise of the top 10 states for foreclosure filings. REO listings on the resale market are being more carefully regulated and dropped in August. Despite this, the number of foreclosures barely dropped and remains strong. Six states make of about sixty percent of the nations foreclosure rate. Some of them have improved in August but not by much. In August 2009, 27 states and the District of Columbia reported over-the-month unemployment rate increases, 16 states had decreases, and 7 states didn’t change. Nonfarm payroll employment went down in 42 states and the District of Columbia and went up in 8 states. Barack Obama’s stimulus plan has yet to make a major impact as homeowners continue to struggle to make their delinquent mortgage payments. His $787 billion dollar stimulus package might not be the fix that our economy needs. Hoover and Roosevelt didn’t fix the economy this way during the great depression. A call or lower taxes, less government, and ease of access to production could help boost the economy according to prominent economists. Either way, the economy doesn’t show any soon signs of recovering rapidly and foreclosures continue to remain high.


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