2nd Wave of Foreclosures = Opportunity?

There’s no doubt that many are upside down with regards to the value of their home and what they owe their mortgage company(ies).  There’s also no doubt that there are many who are late on at least one payment.  What is in doubt is the way that the banks will deal with this “shadow” foreclosure inventory.  Here are the possible decisions a mortgage company may make on each property.

1) modify the owner’s loans to make it affordable

2) agree to a short sale of the property

3) foreclose on the property

If the information in this article  CLICK HERE is correct, then we may see another opportunity for investors and home buyers to take advantage of their good credit and cash to hedge and diversify their investments.