I recently met a BPO agent at one of my short sale listings, and we had an interesting conversation.
He said he was chatting with a number of contacts at the various mortgage loan servicers who provide him with work to perform BPO's. They told him that they anticipate a possible new wave of short sales coming, in 2016 and 2017. The only poignant reasoning that came up as a possible "trigger" for this was the fact that the price of a barrel of gasoline has been so significantly reduced recently, that many petroleum workers could soon see cuts in their hours and/or their entire jobs.
Pretty shocking to hear this! Of course this was just a couple of guys talking, and nothing was based on facts. I pray that this is not the case, and that the economy does not falter in any such a way.
If there is a new wave of short sales coming over the next two years, I'm ready to help people execute a short sale, and avoid foreclosure!
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