Oklahoma State Profile

Employment revisions reveal a more robust Oklahoma economy. Revisions made by the U.S. Bureau of Labor Statistics pegged Oklahoma employment growth in 2005 at 2.54 percent, for a net gain of 37,500 jobs. The new job numbers were significantly higher than previously estimated...

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Finding Opportunity in the Oklahoma Real Estate Market: Pre-Foreclosures

In any real estate market -especially in areas where home valuations are facing downward pressures (i.e., high unemployment levels, overpriced housing markets, or high levels of adjustable-rate mortgages), a certain percentage of homeowners will be in default of their mortgage payment or facing foreclosure.

Mortgage loan default can occur dues to many reasons: job loss, divorce, health issues. Many mortgage lenders practices have added to default rates due to the debut of mortgage products that were configured to lower monthly loan payments and to help borrowers qualify for larger loan amounts, while others involved little in the way of documentation during the approval process.

These riskier loans have made it easier for some people to get mortgage loans, but they also can raised the possibility that some borrowers may end up in foreclosure...

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