Number of selected homes in the U.S. in January, has declined sharply

In January this year, 274 of thousands of American families lost their right to redeem the mortgage, which usually means the loss of home ownership and subsequent sale by auction to cover debts. Despite the fact that, compared with December of last year this figure dropped to 10% in January 2008 it was 18% lower. The data contained in a study the agency RealtyTrac, published the day before.

A major factor in reducing the number selected for the debts of the houses has a moratorium on the deprivation of the right to repurchase mortgages that have entered at the time of the winter holidays of government mortgage agencies Fannie Mae and Freddie Mac, In addition, authorities in Florida were able to negotiate with creditors on a similar moratorium, which will operate for 45 days.

According to the agency, these measures are temporary and do not solve the problem. As a result, when the deadlines pass moratoriums, the number exposed to the auction houses can greatly increase, triggering a new spiral of lower prices on the real estate market.

Vice President of Marketing Rick RealtyTrac Sharg believes that if the parallel does not make any more effort and just wait for that debtors magically appear the money, all result in a new collapse in prices. "That would be a good idea if there was a parallel program of restructuring of hundreds of thousands of mortgage loans" - declares Sharg.

Nevertheless, federal authorities are putting pressure on the 800 holders of mortgages, forcing the postponement of the grant payment until the work is started the program of President Barack Obama to help mortgage borrowers.

The speaker before the legislators, Minister of Finance Timothy Gaytner confirmed that the Government will do everything possible to conduct large-scale restructuring of the mortgage debt of American citizens who otherwise threatened to lose their homes. However, no detailed plans developed Gaytner never reported.

American real estate market has become the catalyst which started the current fiscal, and then the economic crisis. This situation continues to deteriorate - the prices are falling, and the number of defaults on mortgages rising, causing losses to banks and mortgage agencies that are forced to sell mortgaged housing prices, which are often lower than the recipients of the mortgage debt. Some experts believe that economic recovery will begin once the situation with the American mortgage will start to improve.