Montana News: AP-MT-MontanaForeclosur

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     HELENA, Mont. (AP) _ Home foreclosures are expected to increase
in Montana this year, but the rates still remain lower than the
rest of the country.

     That‘s according to Sue Woodrow, community affairs manager for
the Helena Branch of the Federal Reserve Bank of Minneapolis.

     Woodrow says there are some hotspots of foreclosure activity in
Montana, but it‘s nowhere near as grim as in parts of the
Southwest, Midwest and Florida.

     Woodrow says the number of foreclosures nationally has increased
markedly since 2006, which coincided with a large run-up in home
prices. Much of that was due to the use of products like negative
amortization loans, interest-only loans, second liens and
low-document loans.

     ___

     Information from: Independent Record, http://www.helenair.com

     

     (Copyright 2008 by The Associated Press. All Rights Reserved.)

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