On Tuesday May 31st the S&P Case-Shiller Home Price Index fell again, showing signs of continued downward pressure on home prices. The index is down roughly 33% since July of 2006 and below the previous low set two years ago. This continued downward spiral in prices is putting additional pressure on Banks already struggling with…
Is your Bank safe?
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On 4/29/2011 the FDIC took over and sold five banks, one in Michigan and two in each Florida and Georgia. Five Banks in one day is the most recently. It appears Bank closures are heating back up and an increased level of Bank foreclosures will continue through most of 2011.