Foreclosures

[re7012]

We operate www.CurrentForeclosures.com a foreclosure site and have seen a huge increase in the number of foreclosures in the past 4 months. I believe it is a combination of not only sub-prime and ARM mortgages, but also the high number of people who have gotten loans with interest rates at an all time low... in addition to the rapid depreciation in some areas and the difficulty some are experiencing in selling their homes. I recently read an article that predicated that 1.1 million of homeowners will be foreclosed on by 2014....thoughts anyone?

[agentpeter]

What markets are you seeing the highest amount of foreclosures? I would expect that foreclosures continue to increase as time goes on. There are more people buying houses, houses are more expensive = less affordable, and it's still easy to borrow money against your home (such as an equity line).

[re7012]

We have the majority of foreclosures in Texas, California, Georgia, and Michigan. This pretty much correlates with what I have been reading in the news. The market is already flooded with foreclosures, and I agree wit you-I think it will just get worse until next year. I actually am really interested in seeing if the government decides to regulate lending practices after this mess.

TSmith
www.CurrentForeclosures.com

[Jnazareno]

this is nothing more than a spam ..mods pls remove

[re7012]

This discussion is NOT spam....please do NOT remove....I actually am interested in hearing others thoughts, as many realtors I have spoken to believe that the "housing crisis" is nothing more than media making a bigger deal about the slowing market than it actually is. As a investor in foreclosures myself, I am interested to know if I should stop flipping houses for a few years, or if the market will turn around before the media is predicting.


Again, Please do NOT remove this post.