6 Paths Down the Road to Foreclosure
Over the past few months Countrywide Home Loans, Lehman Brothers, and Merrill Lynch’s First Franklin to name a few have all announced major employee cutbacks. President Bush also recently announced a foreclosure avoidance initiative. And talk of an imminent mortgage crisis permeates the media. So how serious is the threat of foreclosure?
The 2008 Housing Market
Most areas have seen declines in home values during 2007. In fact, according to the National Association of Realtors, in 2007 existing home values have decreased an average of 1.4 percent.
