Sharga: Several more years with nearly 1M foreclosures per year

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The housing market faces several more years with 800,000 to 1 million new foreclosed properties per year, according to Rick Sharga, an executive vice president with Carrington Mortgage Services.

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I don’t really have an exact date for when we got serious. It was an urge that got more serious over several years. We’ll just take 40 yo as an approximate date. We were at about $1.2M at 40. Then, a couple years later when we were really serious about RE, 2008 came and our net worth plummeted from $1.9M to $1.0M. That really sucked.

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A slower real estate market can translate into falling prices and home values.. More than 6 in 10 homeowners delinquent in their mortgage payments are not aware of. o 43% of American households spend more than they earn each year .. o Nearly 42% of all American households do not have enough in liquid financial.

Housing demand crashed and decimated the contractors who built homes and a large number of workers left the industry entirely. They basically didn’t build new houses for 3-5 years, and then were slow to return to building houses after that (which is to say slower than population growth for several more years).

Are you ready for four million foreclosures in 2010?. 4 Million Foreclosures in 2010?. alcohol is estimated to be responsible for about 88,000 deaths per year – more than overdoses from.

CAR chastises lenders over short sales AARP sues Wells Fargo, Fannie Mae over reverse mortgage foreclosure. August 5, 2011. Liz Enochs.. CAR chastises lenders over short sales. High court to decide case over RESPA fees.

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