Aug 24, 2009

Rise in Foreclosures in Texas

Texans continue to make late mortgage payments due to which more than 1 in 10 mortgages are late or in foreclosure. In Texas, most of the loans facing foreclosure are subprime mortgages. In the second quarter, 8.79% of residential mortgages in the state had delinquent payments and 1.84 % went into foreclosure, which both figures exceeded the previous quarter.

For more information on this a good read is the article here

Homeowners facing situations like this should consult their broker or the financial planner to get help from some of the programs that the Bush and now Obama adminisitration are promoting for them.

PrivoCorp ( processes the loans for the brokers and is in no way involved with loan modifications or origination of these loans.

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