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Staggering Housing Data Released

Warning!! Watching this video may damage those “Rose Colored” glasses most have been wearing.

1) 14.4% of ALL mortgages delinquent or already in foreclosure in the US.  That is a historic record.

2) PRIME borrowers (NOT SUB-PRIME) borrowers are now the leading edge of this epic housing mess. 33% of all delinquencies (and those already in foreclosure) are PRIME.

3) Next fun fact: 144% INCREASE in FHA delinquencies year over year. Anyone want to place any bets on the long term viability of the FHA in its current incarnation? Anyone?

4) Saved the most staggering stat for last…get ready…The total number of delinquent (and in foreclosure) homeowner/ borrowers is GREATER than the total number of homes for sale. Lets put this into perspective: There are currently around 4,000,000 homes for sale in the country. Thus, there are MORE THAN 4,000,000 homes delinquent or already in foreclosure. Rounding this out a bit, many studies have estimated the total number of homes in the US that are foreclosure bound (if the homeowner doesn’t wise up and sell the home via a short sale) is 13,000,000 to 15,000,000.

About Jeremy Smiley

Jeremy Smiley is a life long resident of Fresno CA. He started his real estate career in 2005 after an eight year career in marketing. After graduating at the top of his class at the London Properties School of Real Estate, he quickly earned the “Senior Sales Associate” Distinction. By his second year in business Jeremy had become a Mutil-Million Dollar Producer. At the end of 2007 Jeremy saw the pending real estate decline and decided to jump ahead of the wave of foreclosures and become a "Short Sale Specialist". Since then Jeremy has helped countless families avoid foreclosure and save their credit. Jeremy puts it best when he says "I'm saving our economy and community one family at a time."

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