Foreclosure Statistics

Foreclosure statistics may paint a fairly grim view of the housing situation in the US, but there is always hope on the horizon.
The most recent statistics from the FDIC (Federal Deposit Insurance Corporation) are listed below.

1. 60% of homeowners who are near foreclosure are not aware that lenders can offer services to help. (Statistic from a Freddie Mac/Roper poll in 2005).
This disturbing statistic tells us that more people could have been saved from foreclosure if only they had been aware of the services that lenders can offer to them if they are having trouble making repayments. It always pays to speak to your lender at the first sign of difficulty.

2. 1 out of every 200 homes will be foreclosed. In a major cities that can mean around 3000 homes are lose to foreclosure each year (statistic from the Mortgage Bankers Association).
This foreclosure statistic is a wake up call for people who think they are immune to foreclosure due to where they live. In reality, no city, town or state is immune to foreclosure.

3. Out of every classroom in the USA, one child is at risk of losing their home due to their parents being unable to complete mortgage payments. (Statistic from the Mortgage Bankers Association).
This alarming foreclosure statistic brings home the pressure that parents are on to repay their mortgage in difficult times. No child wants to lose his house and no parent wants to put their child in such a situation. Read more »