Foreclosure Reality

In 2005, somewhere between 40% and 45% of homes purchased were secondary homes, either investments or vacation homes. A recent statistic I read said that a third of residences are owned outright. That one really shocked me.

So when you hear of foreclosure and defaults remember it isn't just people losing a their living space. I know of some that got overextended and bought too many homes thinking they were invincible like Casey Serin and found out different.