Trends are showing more Green Bay Foreclosures are on the way

If you turn on you TV on any given day I’m confident that you’ve heard about the problems our local Green Bay WI area is facing when it comes to Green Bay WI Foreclosures. The Green Bay Press Gazette had an interesting article that showed increases in local area home owners that are 90 days behind on their mortgage payments. In August 2008 there was 2.72 percent of people that were behind on their mortgage payments now it’s 4.02 percent.

More area homeowners fall behind on mortgage payments | greenbaypressgazette.com | Green Bay Press-Gazette

Local housing experts agree that many homeowners are struggling and say things may not get better until unemployment declines and the economy improves.

In Green Bay, 4.02 percent of property owners were more than 90 days behind in mortgage payments in August, compared with 2.72 percent in August 2008, according to First American CoreLogic, a group that collects data on the housing market.

The foreclosure rate also has increased from 1.31 percent in August 2008 to 1.86 percent in August this year.

Brown County had 445 foreclosures finalized this year through Wednesday. That compares with 415 through the end of October 2008 and 317 in the same time period in 2007, according to an analysis by the Green Bay Press-Gazette.

So what does this mean for Green Bay Home owners?

If you are planning on selling your Green Bay Home be prepared to compete with Green Bay WI Foreclosures. Banks can be a private sellers worse nightmare when you have to compete at their pricing
Until the trend shows decreases in people that are behind on their mortgages expect the problem to continue if not worsen

This is a problem for all the home owners in the local Green Bay area so you are not alone even though it’s a problem we all wish we didn’t have to deal with. If you are in a situation where you’re starting to fall behind on your mortgage payments it’s time to be proactive and seek out help from people you can trust. Use extra caution when seeking out help unfortunately, there are people who are taking advantage of Green Bay Home Owners. Please be extremely cautious on who you trust.

One local Green Bay area non profit is doing their best to help Green Bay Home Owners that are in dire need. Green Bay Neighborworks Inc. provides Green Bay WI Foreclosure Prevention Counseling/Homeownership Preservation Counseling

Hire a True Local Green Bay Real Estate Expert

Greg Dallaire, also known as “Green Bay Greg” is the ‘premier’ Green Bay WI Real Estate expert. Greg’s approach is cutting edge, utilizing creative Internet marketing strategies to get your Green Bay Home sold! If you are looking for a true local expert with a proven track record of success in the Green Bay WI Real Estate market, give “Green Bay Greg” a call today at 920-217-2647. View Video Testimonials of Green Bay Greg’s past clients.