Another Wave of Foreclosures?

While we have experienced some leveling in our market the last 3 months there are fears of another wave in foreclosure activity. These fears may be founded as foreclosure starts were up 28% in January and some are of the opinion that we will see foreclosure activity at a greater level in 2012 than we did in 2010.

This new wave of foreclosures is expected to hit borrowers who were not involved in many of the sub-prime mortgages but rather folks with ordinary mortgages that have been effected by the recession.

See Reuters article “Americans brace for next foreclosure wave”.

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