Foreclosures in Tucson
by Nancy Woodward
Thousands in Tucson face the possibility of losing their homes. The Tanner family fell behind in the mortgage on their home in the Northwest side of Tucson. Thousands of homeowners face this predicament.
Already more than 5,000 homes have gone into foreclosure during the first nine months of this year. that is double the number of foreclosures for this area last year according to RealtyTrac.
The problem prevails all over the area. It happens for various reasons such as job loss, increase in mortgage payments, divorce and more.
Many of these homes can't be put on the market since they are now worth less than the going rate for similar homes. This problem is increasing the inventory of unsold and vacant homes in the area.
Thousands in Tucson face the possibility of losing their homes. The Tanner family fell behind in the mortgage on their home in the Northwest side of Tucson. Thousands of homeowners face this predicament.
Already more than 5,000 homes have gone into foreclosure during the first nine months of this year. that is double the number of foreclosures for this area last year according to RealtyTrac.
The problem prevails all over the area. It happens for various reasons such as job loss, increase in mortgage payments, divorce and more.
Many of these homes can't be put on the market since they are now worth less than the going rate for similar homes. This problem is increasing the inventory of unsold and vacant homes in the area.
Labels: interest rates, real estate foreclosures, real estate market, real estate reverse mortgage loan advice
posted by Nan at 6:52 PM
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