Refinance insights
Many real estate analysts expect foreclosure rates to increase dramatically in the next few years, as over 2 million homes went into foreclosure in 2008. Arizona was ranked number three in the nation for foreclosures. It is one of the areas in the country hardest hit by the recession with unemployment recorded at 6. 9 percent in the last month of 2008. By choosing Arizona as the place to unveil the details of a plan to help the housing sector, President Obama will be able to reach out to the very people who have been most affected by the economic crisis.