Jumbo Foreclosures: Rise continues in most markets

Jumbo foreclosures continue to rise in most markets

USA Today reported this week that “foreclosures among borrowers with prime conforming loans have shot up 425% since January 2008” and  “jumbo prime loans not eligible for purchase by Fannie or Freddie have done even worse — foreclosures on those have increased nearly 600%. Jumbo loans are typically mortgages of more than $729,750.”

The article goes on to quote RealtyTrac research indicating that that although  the U.S. may be seeing signs of a peak in foreclosures in some of the hardest-hit markets, foreclosure activity rose in 154 out of 206 largest metropolitan areas in the first half of 2010.

Metro area foreclosure filings for the first six months of 2010