7 million new foreclosure properties are about to hit the market! Exit Realty Central is frequently ranked in the top ten Companies in Central Florida; being that we are such a foreclosure enriched company, one can be assured that we will carry a very healthy percentage of these properties. May of 2008, 5.0 percentage of every mortgage on the ground was 90 + days behind. May of 2009 9.5 percent of mortgages on the ground were at least 90 + Days behind. We expect that May of 2010, after calculating rising rates, 5 year arms coming due, and further job losses, 15 percent of mortgages could be 90 + days behind. For the most part, banks start the initial process of foreclosure once a property reaches the 90 day delinquent stage. SEE THIS ARTICLE BELOW. WOW!
This is neither good nor bad. It is simple a correction of our mistakes. The good news is, if you are in a position to purchase a property, you will probably never have this opportunity again!
If you are interested in searching for homes in the Central Florida market, please click here www.ExitRealtyOrlando.com
Matthew Stamer
Exit Realty Central
Broker / Owner
Office - 407-539-Exit (3948)
Fax - 407-647-Exit (3948)
Tags: Banks, Finance, foreclosures, orlando, real estate
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