The TRUE Cause of Foreclosures
Posted on Friday, December 7th, 2007 | In Current Market News
Contributed by: Chad Brand (http://www.peridotcapitalist.com) -
The wires are reporting that the White House is working on a plan that would freeze rates on adjustable rate mortgages for certain borrowers, in an attempt to help curb the rapid increase in home foreclosures expected in coming months. While it certainly will help the situation, consider a slide from Countrywide’s Keynote Presentation at the 37th Annual Bank of America Investment Conference in September which showed the following:
Causes of Foreclosure (July 2007)
58.3% Curtailment of income
13.2% Illness/Medical
8.4% Divorce
6.1% Investment property/Unable to sell
5.5% Low regard for property ownership
3.6% Death
1.4% Payment adjustment
3.5% Other
Very interesting…
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 About Chad Brand (http://www.peridotcapitalist.com)
Chad Brand is the Founder and President of Peridot Capital Management LLC, an independent investment advisory firm based in St. Louis, Missouri. In addition to managing investment portfolios for clients, Chad writes "The Peridot Capitalist," an investment blog that has been named one of the best stock market blogs on the web and is regularly quoted on sites such as Forbes.com, TheStreet.com and Yahoo! Finance. Prior to founding Peridot, Brand graduated from Washington University in St. Louis and worked in the corporate finance department at Express Scripts, Inc, an $18 billion per year pharmacy benefits management company. |
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