Just got back from the REO/Bank Owned Loss Mitigation Conference in Dallas and the information I brought home was incredible. Some highlights are:
1. 500 Billion worth of "Exotic Loans" will adjust in 2006/2007 resulting in 20-50% increase in monthly payments.
2. California Leads the Nation in Exotic Loans (Neg Am, Interest Only etc)
3. Freddie Mac's main concern is the overall energy prices which could lead to a recession.
4. REO's & Bank Owned properties are going to increase in Sacramento come 2007.
I look forward to sharing more soon and look for a great website coming out for Investors & Bank Owned Property Buyers which will be a great education tool.
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