Impact Of Refi Boom On Forced Sale Prices
Okay, so every property owner has suckered into borrowing 125% or more of the true value of his property just because the rates are low. Then comes a day of reckoning and a bunch of this property with bloated mortgages finds it's way to the courthouse steps. This "boom" is going to be a "bust" to folks like us who like to buy foreclosures, if it isn't already. Anyone seeing this yet? 
Don't you think the lenders are going to be a lot more lenient on terms & price for some one to take all the REOs off their hands?
The ARMs are going to start raising also, this will also increase the # of forclosures. Good times, they are a comin'!