A few different sources have informed me that we are about to get a significant increase of foreclosure properties. What is being said is that the initiative President Obama put into effect to keep family's in there homes and them from being foreclosed on 5 years ago is about to expire and its time to pay the piper.
Is there any truth to this and can anyone shed more light on this subject?
Comments
Depends where you are talking..CA? Yep there will be more coming down the pipeline this year due to various things, state subsidized programs here are starting to falter, Obamas keep your home will be another, inflation regardless of the APR will also play a part. Get ready REO is about to turn.
I don't think it will explode but you may see some rises in certain areas. As the interest rate rises on the 30 year loan it will become harder to get into a property for some. This will lower some of the home values and some people may find themselves in a home that they paid too much for.
Probably but that may not be the entire reason. I think that the investors who bought bulk are ready to drop their drawers. It takes at minimum a year or 2 for them to weed out the junk, try to do workouts, foreclose, get title, evict, etc. I think that's where it will come from.
-
1
-
2
of 2 Next