Posted using ShareThis
The next wave of foreclosures is coming as the prime mortgages with laid off mortgagees begins to hit.
Most analyists agree that the only way to halt the tsunami all over again is for the banks to release the REO’s they are sitting on, let the housing market take the hit and then adjust itself again. Yes, it will be painful, but dragging out the process does nothing than forestall the inevitable and make it hurt worse in the long run.
Think bandage. When you take it off slowly it hurts longer than if you just rip it quickly. Let’s get this thing over with!