Expect Two More ‘Waves’ of U.S. Foreclosures

Posted on August 21, 2008. Filed under: Uncategorized | Tags: , , , , , |

While the U.S is currently in the midst of the largest bout of home foreclosures in at least 30 years, at least one economist says two more ‘waves’ are likely on the way.

Patrick Newport, a housing economist at Global Insight, said the next round of foreclosures could come over the next several months as a result of continued job losses in the U.S.

In addition to the nearly 660,000 U.S. jobs lost since December, Global Insight is currently forecasting another 600,000 jobs lost over the rest of 2008 and into the first quarter of 2009.

http://www.mortgagenewsdaily.com/8202008_Foreclosure_Waves.asp

www.nationalloanaudits.com

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