I was in the mortgage business for about 40 years and nothing they have come up with has surprised me at all. Recently I talked to a friend in the mortgage business who said "are you surprised there are not more foreclosures for sale. The reason is that the banks are holding back their foreclosures so as not to cause tremendous drops in prices. So my question is, are they eventually going to have to let them out on the public and what do you think will happen. I tried to find a foreclosed home and saw the NOD but then I lost it and it is still in limbo?? This is another black eye for the banks.
Comments
I was in the mortgage business for about 40 years and nothing they have come up with has surprised me at all. Recently I talked to a friend in the mortgage business who said "are you surprised there are not more foreclosures for sale. The reason is that the banks are holding back their foreclosures so as not to cause tremendous drops in prices. So my question is, are they eventually going to have to let them out on the public and what do you think will happen. I tried to find a foreclosed home and saw the NOD but then I lost it and it is still in limbo?? This is another black eye for the banks.