That New Foreclosure Tsunami? Still Waiting

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That New Foreclosure Tsunami? Still Waiting

That New Foreclosure Tsunami? Still Waiting

Contrary to reports out there… we won’t see any changes happening any time soon because we still have to face the FHA subprime loans that are being fed to buyers today.

Wall Street Journal-

For at least the last six months or so, a lot of people were talking about a “new wave” of foreclosures threatening to smother the U.S. housing market in gloom once again.

The reasoning was that because of the “robo-signing” scandal, and the subsequent foreclosure freezes, a huge number of foreclosures had been put on pause, and that the banks would eventually have to deal with their delinquent borrowers, and foreclosures would re-start in a big way.

According to data released this week by LPS Applied Analytics and CoreLogic, the waters are still relatively calm: no big waves on the horizon just yet.

[WALL STREET JOURNAL]

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