Prime Foreclosures Surge Past Subprime in July

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Submitted by jonnycsd on August 28, 2008 - 8:34pm

The carnage continues . . .

"HOPE NOW’s monthly data shows that during July, foreclosures were initiated on 105,000 prime borrowers and 92,000 subprime borrowers. Prime foreclosure starts in July were well more than double the 51,000 recorded one year earlier, and up almost 10 percent from June; in comparison, subprime foreclosure starts in July were up 22 percent from one ago, and up 10 percent month-over-month as well."

http://www.housingwire.com/2008/08/28/pr...

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SD county's current
Submitted by peterb on August 28, 2008 - 11:17pm.

SD county's current foreclosure run rate puts us at about 20,000 foreclosures for 2008. We had 8,500 in 2007.
Check out Ward Hannigans's foreclosure statistics page for up to the month data:
http://www.foreclosureforum.com/stats.html

Then go to Mr Mortgage's site for information on the coming Alt A and Prime foreclosure probabilities:
http://mrmortgage.ml-implode.com/

Then explain to me why you want to buy a house before the end of 2008?

It sure looks like the
Submitted by FormerSanDiegan on August 29, 2008 - 8:34am.

It sure looks like the housing market is in no position to improve doesn't it ?