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Seriously, In 27 years in this industry never has it been this bad. I am not telling you anything you don't know if you have been in this business 10+ years or more. As long as I can remember there has always been death, drugs, divorce, disease, and just plain dead beats the source that has fed us the REO over the years. Now we have a 6th "D" of REO. Those dumb enough to have stated they could afford the property they purchased and now an O'Bummer adminstration who seems to cater to the first 5 d's of REO as well. I have no sympathy for the so called I want what I want "Sub Prime Victims". Where else but America can anyone live free for 2-4 years, maybe longer and be catered to for ignorance? The new tenant act law? haha 98% of those in the property were not paying at all, the reason for the default of the wanna be investor. But they get to stay free another 3 months. I know there will be no tsumani of REO coming our way. There will be no opening of any flood gates. Confirmed by several of my clients. Slowly they will release the lower end properties as values stabilize and go up from there. It is what it is so fasten your seat belts for a long slow bumpy ride, over priced REO, demands of seller financing applications and a part time job to afford all the mandatory REO education courses that come with the threat of NO MORE BUSINESS if you don't comply as a way for the very sources we depend on to generate revenue to survive themselves when there is very little business right now. Since when in past years have you ever seen so many certification courses in REO all claiming to be the key to the business? Default School multiple choice training with questions so elementary as "What is the proper amount to spend on a gift to an asset manager?", What type AC unit is this? da, central, how to hold a digital camera and take pictures of a house? What happens when you bill late after a closing? OH Please! My game piece is still on the monopoly board and my objective is to collect more little green houses then anyone in my area. I refuse to lose, follow directions and am hanging in there for the long haul still having more fun then anyone without the support or back up income of a spouse or a job. I have become the Queen of 40.00 BPO's and fried rice recipes, haha That's reality.