Residential foreclosures

renovation · 07-15-2009, 10:05 PM

Quote:

Residential foreclosures across Oakland County soared to 940 in June, putting the county on track to break the 8,000 mark for the second straight year.

The numbers signal continued bargains for buyers, headaches for sellers and worries for governments that rely on property taxes for revenue as property values fall.

Foreclosures this year have bounced up and down from month to month, mostly at a pace lower than last year’s 9,242 that were recorded.

But the 940 recorded in June comes close to the record of 948 in January 2008.

http://www.theoaklandpress.com/artic...5523872610.txt
how bad is the housing foreclosures in your area. this is the county were me and Jeffbx live in

clutchy · 08-01-2009, 01:23 PM

may be time to pick up some investment properties.

Chgoman · 08-01-2009, 04:31 PM

The banks have generally not been pushing forclosures much for the last few months as they have been developing internal guidelines to assess loans for federal loan mod programs and such.

My best guess is that we'll see a huge wave of foreclosures toward the end of this year as the banks finally catch up on what they haven't been doing for the last few months. This happened earlier this year around January and when it does finally hit, it should provide some good investment opportunities if you're looking for real estate.

08-01-2009, 01:23 PM	#2
clutchy Rear Admiral Lower Half Join Date: Dec 2000 Location: Yucaipa, CA Posts: 2,863	may be time to pick up some investment properties. __________________ LK was treated unfairly thanks X

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08-01-2009, 04:31 PM	#3
Chgoman Lieutenant Commander Join Date: Apr 2002 Location: Mission Viejo, CA Posts: 696	The banks have generally not been pushing forclosures much for the last few months as they have been developing internal guidelines to assess loans for federal loan mod programs and such. My best guess is that we'll see a huge wave of foreclosures toward the end of this year as the banks finally catch up on what they haven't been doing for the last few months. This happened earlier this year around January and when it does finally hit, it should provide some good investment opportunities if you're looking for real estate.

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