Economist Paul Dales with Capital Economics stated this week “Up to four
million households could still lose their home,” Mr. Dales wrote Thursday in a
note to clients. “Aside from the considerable social costs, this does not bode
well for consumer spending, bank profits or the housing market itself.”

With over 25 million properties with tax delinquency records, it is critical for buyers that are looking to purchase a
home or property to consider taking the time to pull property records and look into the current mortgage
condition of a property before making an offer. This holds true whether one is
purchasing by means of conventional financing or seller financing (owner carry).
This would even apply to long term leasing or renting. Having access to this
data can This is especially important when earnest money may be at risk or if
there is a consideration (down payment) involved in the transaction.

Records can now be ordered or downloaded online from various sources
including the County recorders office. Free foreclosure activity reports are available online
with U.S. Real Estate Data – Nationwide online property records.

The data firm “LPS” Applied Analytics also stated that with lenders
initiating 279,685 foreclosures in July, up from 225,700 in June, there are some
troubling times yet ahead in the Real Estate Market.

Hindsight is everything. Having the ability to efficiently access
critical data can be invaluable.

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