The Court assigns a Certificate of Title to the lender of a foreclosed property that no one buys at auction in Miami Dade County. The recording of Certificates of Title show you how times have changed. I researched the entire year for Countrywide Home Loans in 2006 and just two months in 2007. Quite a difference. Please do take into account that county clerk records are not entirely accurate. But this will give you a good idea of the foreclosure rate. (Hit on images to enlarge)
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1 in 16 homeowners did not pay their 2006 property taxes. Now the 2007 bills are out and…the next wave…defaulting on the credit card debt based on the equity of homes and home equity lines of credit.
Happy Thanksgiving and don’t feel an obligation to Christmas shop just to prevent a recession. (This year I am not going to do my bit to keep the economy humming…hmm if it knew the words it would sing)
S
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