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Record 12% of Homeowners Behind or in Foreclosure

As you have probably already read, accroding to the Mortgage Bankers Association, a record 12% of homeowners are either in foreclosure status or are behind at least 1 month on their mortgage payment.  One ray of hope is that the MBA is forecasting national GDP to finally stop its downward slide.  However, the good news basically stops there as the unemployment rate looks to hover around 10% for the next several quaters.  It appears that we are in for a jobless recovery and one where we won’t see real job growth until 2011 or later.  Click here for the full report.

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