Foreclosures rates climbing – Countrywide Real Estate

You probably haven’t heard this before but there are a lot of foreclosures happening across the country. As the leading lender, Countrywide has gone so far as to publish the rate of foreclosures on their web site. I looked at this web site two weeks ago and the number was 14,000 something. Now, two weeks later it is 15,783! If you are an investor, I would become fast friends with someone in the Countrywide repossession department because they are going to be looking for buyers. According to Bloomberg Countrywide reported “late payments advanced to 7.2 percent of unpaid balances from 4.6 percent” in December 2007. Take a look at the graph below or go to the web site for more information.

Countrywide foreclosures California