Recent Data Show Risk to U.S. Properties Stands at over $3 Trillion

08-18-2009 • American Banking News

And remember Proof - The FDIC is Broke! Now snippets from the article... Spin it any way you want to, the risk to U.S. banks, the economy and homes in the U.S. is far from over, as recent data show, properties in the U.S. are still at risk to the tune of over $3 trillion ($3.4 trillion). And re-sets for most of them are coming due over the next couple of years. As of June 30, close to 33 percent of all properties that are mortgaged are underwater, or in a negative equity position, according to data released from First American CoreLogic. “Negative equity continues to be the dominant driver of the mortgage market because it leads to foreclosures in the event a borrower experiences some kind of economic shock such as a job loss, illness or other adverse situation. Given that negative equity did not increase this quarter and home prices declines are moderating or flattening, we may be at the p

2 Comments in Response to Recent Data Show Risk to U.S. Properties Stands at over $3 Trillion

Comment by RickStone

Entered on: 8/19/2009 11:00:07 AM

Has anyone come to the suspicion that Lucky Red is a police or FBI provocateur? He seems to disagree with anything and everything and is always trying to insult or stir up peoples negative emotions. For someone that is so unhappy and disagrees with so many articles on FP it begs the question. Why are you here and why don't you go to other sites that follow and mirror your political views ? You agree with nothing and contribute nothing but annoying static. Which department do you work for?

Comment by Lucky Red

Entered on: 8/19/2009 7:56:21 AM

~Yawn~

We're in a depression, our government is running by the corporations, the US is bankrupt, we're going down faster than a speeding bullet.

The end!

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