Despite the news about the economy is turning around and has reached bottom, prime foreclosure activity is still increasing.  Read the interesting article below to see how the prime foreclosures (not non conforming loans) are continuing to increase. 

If you know of someone that may be upside down or behind on their payments and are unsure what to do, please have them call me.  The Gutting Group specializes in short sales and dealing with distressed borrowers.

Derek Gutting, The Gutting Group, Keller Williams Realty, 317 846-4888, www.GuttingGroup.com.

Prime foreclosures next
 
An increase in mortgage defaults among prime borrowers in 2009 is likely to accelerate this year, slowing the real estate recovery even as Americans become more optimistic about the economy, said Robert Shiller and Karl Case, the economists who created the S&P/Case-Shiller Home Price Index.
 
The number of prime mortgages overdue by at least 60 days more than doubled in the third quarter from a year earlier to 838,000, according to a Dec. 21 report from the Office of the Comptroller of the Currency and the Office of Thrift Supervision. Unemployed homeowners struggling to pay their bills will default on their home loans and increase foreclosures, Shiller and Wellesley College's Case said.