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FORECLOSURES, FORECLOSURES EVERYWHERE
Friday, May 16th, 2008 -- 11:20 am
Posted by Riley Hebert-News Director
More Wisconsinites are having their homes foreclosed upon, according to a new report.
Milwaukee-based Foreclosureswi.com says the state experienced a 40-percent increase in foreclosures in April.
2,103 homes entered foreclosure in April 2008. The increase is the highest since January, when foreclosure filings rose 45-percent.
Foreclosures are up 70-percent from 2005 to 2007.
Analysts expect escalated rates through 2008, and some experts don't see a recovery until 2010, as more homeowners skip out on mortgages due to adjustable rate mortgage resets, a soft housing market and the collapse of the subprime mortgage market.
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