Tsunami of foreclosures on the way?
From most of the people I have been talking with, all signs point to a wave of foreclosures heading our way. The common wisdom seems to be that the moratoriums have temporarily dammed up the stream, causing a backlog; when all the moratoriums are lifted we are in for a mass of foreclosures. The thought is that three or even six months won't have changed too many financial situations for the better and the "banks" can only have facilitated so many loan modifications.
What does your crystal ball say about an upcoming wave of foreclosures?
Separately, I have heard there are some 600-800K foreclosed properties that have not been let out to the market?
Does anyone have any specific / direct insight to confirm or deny either of these?
Robert T. Boyer, Ph.D.
San Diego's Finest Real Estate
RobertBoyer.Realtor@gmail.comRobert T. Boyer, Ph.D.
Licensed Realtor® #010791063
Real Estate Investor Advisor
Real Estate Financial Planner
(858) 755-2111
San Diego Foreclosures and Real Estate Investments
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