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Study Says That a Flood of Foreclosures is Coming


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If that is true then I would expect a feeding frenzy by investors when the market corrects next year. In about 2 years there will be another wave as those now start heeding the FHA call. From what I hear FHA is pounding the streets trying to take advantage of the death of 100% financing, subprime, and stated income loans.

Chris, Oregon

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If I had to choose between a cinder block dropped on my toes from 5 feet high or an adjustable mortgage on my home I would take the cinder block on toes. The da** things should be illegal. Predatory lenders do not explain adequately the future problems with fluctuating rate loans, if at all. I have dealt with many lenders in my time some were good and some were so bad I called one of being a mafia operation to his face. When I complained to another lender he said "we go by the golden rule. We have the gold and we make the rules".

Moral of this story is beware of strangers bearing gifts and mortgage brokers.

Paul B.

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