Well, we all knew the housing dream of a few years ago was too good to be true.
We were right and it turned into a nightmare.
According to Housing Predictor:
The new wave of foreclosures is already impacting markets in Southern California, Arizona and Nevada where the crisis triggered some of the worst housing deflation in the country. A new crop of ALT-A loans backed by Fannie Mae, Freddie Mac and the FHA are showing high levels of default. Nearly 4-million other mortgages are at risk of foreclosure in 2010 from subprime and what were newly created mortgage products developed by bankers that helped trigger the crisis.
Additionally, equity in homes have been slashed in half! and Bank of America is foreclosing on folks left and right.
An estimated 15 million more foreclosures are due in the next 5 years while current government measures have only helpd 66,000 people modify their existing loans.
There are solutions we can provide as investors:
From Forbearance, Loan Modifications, Short Sales, and SubjectTo Techniques that can save homes, protect credit, or even give homeowners a fresh start.
The Key is having the knowledge about these options at your disposal to provide the needed help
Dennis
We were right and it turned into a nightmare.
According to Housing Predictor:
The new wave of foreclosures is already impacting markets in Southern California, Arizona and Nevada where the crisis triggered some of the worst housing deflation in the country. A new crop of ALT-A loans backed by Fannie Mae, Freddie Mac and the FHA are showing high levels of default. Nearly 4-million other mortgages are at risk of foreclosure in 2010 from subprime and what were newly created mortgage products developed by bankers that helped trigger the crisis.
Additionally, equity in homes have been slashed in half! and Bank of America is foreclosing on folks left and right.
An estimated 15 million more foreclosures are due in the next 5 years while current government measures have only helpd 66,000 people modify their existing loans.
There are solutions we can provide as investors:
From Forbearance, Loan Modifications, Short Sales, and SubjectTo Techniques that can save homes, protect credit, or even give homeowners a fresh start.
The Key is having the knowledge about these options at your disposal to provide the needed help
Dennis
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