Join Date: May 2012
Thanked 283 Times in 133 Posts
I've been reading some articles about the mortgage industry. They say the mortagage companies are in a glut with foreclosures. It appears the MC's are starting to slow down on foreclosures, working with the home owners a bit more before taking the houses. This could account for the slow down.
I read one article that said the MC's have about 3-4 years worth of foreclosures, that is, it will take them that long to process and resell the houses already in their inventory.
And one commen t I read - a massive new crop of foreclosures is about to hit the fan, held up over the past several months by litigation about bankers "robo-signing" foreclosure packages.
So, it just goes to show you...nobody knows.
Last edited by BamaPPC; 05-29-2012 at 12:10 PM.