search

The Real Deal Logo

Trending

HGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudTrump accused of making false statements about $50M Chicago tower loanTrump accused of making false statements about $50M Chicago tower loanChetrits have a problem in PassaicChetrits have a problem in PassaicLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a
South Florida

Foreclosures could hit 6.5 million by 2011

Sign Up for the undefined Newsletter


Rick Sharga, vice president of marketing at Realtytrac, spoke to Bloomberg News earlier this week about the news that foreclosures in the U.S. have now exceeded 300,000. Foreclosures could be close to 6.5 million by mid-2011, according to recent figures from JPMorgan Chase. Sharga said that unemployment-related foreclosures are starting to increase, and that the upcoming resetting of many adjustable-rate mortgages will also send more homeowners into foreclosure.

Tags
ForeclosuresJP MorganRealtytracRick Sharga