We have seen the number of foreclosures rise to over 800,000 this year; mostly residential homes. The number next year will be including a great deal more of commercial properties.
How will this affect our cities & towns? What should we be on the look out for?
What should the plan be for the commercial landlord whose mortgage is more than the value? The loans are BALLOONING. Values have fallen significantly. Foreclosure? Short sale?
Should aggressive agents market to the commercial owner? Is a short sale better than foreclosure on the credit report? I say "yes".
What are your thoughts?