According to some experts, you shouldn’t expect your home to increase in value anytime soon. In fact in the next 12 months prices are likely to fall. Resdients of Stockton, California have seen such a large decrease in their home value, that they are likely to lose more then half of their 2006 value.

What does this mean for homeowners… Be sure that you are able to make your payments and that you have a fixed rate. If you fear you will not be able to make payments or have an adjustable rate, a loan modification is an option worth looking into.

This entry was posted on Tuesday, September 16th, 2008 at 12:50 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.