Countrywide Foreclosures: January 2008
Today, Countrywide Financial (NYSE:CFC) released their January Operational Results showing that delinquencies and foreclosures are continuing their climb to troubling levels with delinquencies jumping over 50% to 7.09% of total number of loans or 7.47% of total unpaid principle balance, and foreclosures soaring over 92% to 1.48% of total unpaid principle balance since January of 2006.Prior to January 2007, Countrywide reported foreclosure data as a percentage of the total number of loans serviced which obviously lacked complete clarity.
Below, are charts of both measures; delinquencies by total number of loans serviced and foreclosures by percentage of unpaid loan principle (Click for larger versions).
Be sure to check out the Countrywide Financial Foreclosures Blog’s Inventory Tracker for some more startling evidence that foreclosures are skyrocketing over at Countrywide Financial as well as some excellent REO tracking features.
Labels: countrywide financial, economy recession, housing bubble, Mozilo
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posted by SoldAtTheTop at
1:15 PM
1 Comments:
The explosion of foreclosure properties is both a crisis and opportunity, as there are suddenly thousands of homes available at bargain-basement prices.
Google Answers compiled a list of excellent resources for finding foreclosed (and pre-foreclosure) properties in local communities. You can see it here:
Foreclosure and Preforeclosure Homes
It's certainly worth a look, if you're interested in exploring the possibilities, or even in simply seeing what's happening in your neighborhood.
By
David, at 8:34 AM
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