Broad Declines in Housing Prices, Get Mortgage Relief

Economists estimate there's a 10-month supply of unsold homes.

In March, almost half of the existing home sales were from distressed sales of foreclosures and short sales from institutions trying to undercut local "Homes for Sale" market prices (which we have talked about here, before).

The median (average) price for homes fell by 12.4% from March 2008. This means half the
home markets were down less than 12.4% but half the home prices fell by MORE than the 12.4% number, so 12.4% is the average, or median price drop.

Home prices experienced broad based declines during the month of February.

The S&P/Case-Shiller 20-City Home Price Index fell at an annualized rate of 18.6%.

While February's numbers were better than January's, the U.S. housing market remains unhealthy. This is why we say when State or National Realty Organizations seem to be
excited about "market sales are going up, we could have reached the bottom" they are just
trying to blow smoke over a bad market and hope to encourage buyers to come out of hiding.

Meanwhile, the sales numbers now have little to do with existing homebuyers trying to sell,
as banks "dump" properties at a bargain via distressed sales.

In March, layoffs accelerated and looked particularly bad in the manufacturing sector.

Also, there is much uncertainty in the Auto Industry sector, as a whole.

According to Freddie Mac, 30-year fixed rate mortgages averaged around 4.80% over the past week...yet, where are the buyers???

Great 30 year rates don't mean anything to the unemployed.

Those rates also don't mean much to sellers who are losing value in their home everyday
and are in competition with banks who can "write down" the loses against profits and cover bad deals with tax benefits.

However, there are good to great deals on homes if you are in a position to buy, have cash
for a down payment and have excellent credit.

If you need help increasing your credit score you can have your current credit cleaned and
save thousands of dollars, not only by getting the best mortgage rates but also lower
insurance payments, as insurance companies use credit info to offer rates.
tax benefits.

If you have not been able to sell and are now behind in payments, apply for Mortgage Relief.

This is NOT the Obama Government program and this is NOT Loan Modification.

If you qualify for Mortgage Relief, you may be entitled to have your old loan "thrown out"
and replaced by a NEW LOAN at today's current market value of the home.

With broad declines in housing prices, some homeowners have reduced their old mortgage
debt by 50%! Act Now, submit your information for a Free Mortgage Analysis.