OC Real Estate

Given all the worries about credit in this country, and subprime mortgages, I was curious as to what the entire amount of home mortgage debt is. There are about 110 million households in the country, with 70% of them owned residences. Let’s say there are 75 million owned homes. Not all have mortgages, but if 70 million do, and the average mortgage amount on such homes is $200,000, that comes out to a scary $14 TRILLION of mortgage debt in the USA. If just 2% default, the amount of bad home loans is $280 billion. It could obviously be much higher.

Does anyone know what total mortgage debt is per household and in total? This is a real problem that could damage the economy.

Karen Credit, Mortgage, Real Estate, United States Brokerage, Economy, Foreclosures, Home Mortgage, Households, Mortgage, Mortgage Amount, Trillion, Usa Credit

Do you have to be a real estate broker or agent (and have brokerage license) in order to buy directly from the government? What prices can I expect on foreclosures in our declining economy? I don’t want to pay anything higher than expected in our current economy. Where can I obtain the foreclosure listings and other info for free? Please direct me to a proper website that explains all this. Thanks.

Karen Real Estate Brokerage, Declining Economy, Foreclosure Listings, Foreclosures, Real Estate Broker