As the first wave of sub prime mortgage problems seems to be leveling off a bit, there is a new wave rolling in of homeowners with good credit who are now falling behind in their loans payments. Experts believe that this will worsen in the next two years, as many homeowners monthly payments will increase and the rate of unemployment reaches new highs.

In addition to the economic problems developing in our country there is also the problem that homeowners will not just being paying interest, but principle as well. And analysts are saying that some people could see a 50 percent increase in their monthly payments. With many of them owing more then the property is worth they will be unable to sell. And so, unforetunately the deteriorating housing trend continues.

This entry was posted on Monday, August 4th, 2008 at 12:03 pm and is filed under Foreclosure. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.