Good Morning America;  Another great sunny day here in the Northeast...  More information about the seriouse problem facing the 'Jumbo' mortgage homeowners, and it doesn't look good...

According to data compiled by 'Realty Trac', in 2011 over 36,000 homes valued at $1million or more were Foreclosed on - or at least served with a notice of default.

While that is less than 2% of all foreclosures nationwide, it represents a much bigger share of foreclosure activity than in previous years. When added together they account for a much bigger picture of the foreclosure pie.

Foreclosure properties valued at $1million or more increased by some 115% since 2007.

Foreclosure properties valued at $1million or more increased by some 273% since 2007.

These Non-Conforming high values mortgages are in the most serious negative Equity debt in the country.  A home in 2006 worth $1.5million and now values at $1million, yikes - the homeowners are locked into their home until they regain $500,000 in lost equity in many years to come - If Ever! 

They cannot refinance, obtain a home equity loan, or sell their home - they could walk away and ruin their credit ratings for years and other legal expenses, not to mention a change in lifestyle.


We have the answer for these homeowners,

Have A Valuable Day!