The foreclosure process has helped many get out of repaying the excessive debt on the homes they purchased. Had the government not slowed down the process, we would have completed this cycle much faster.
My fear is that current government interference by excessive low interest rates is causing pricing to rise faster than it should be currently.
From DS news
In a report released Monday, ForeclosureRadar boldly asserts that foreclosures are helping mend the market in California, and the government--backed by the banking industry--has created foreclosure delays to help bank balance sheets. ForeclosureRadar argues "the real problem continues to be the negative equity created during a massive and unsustainable credit bubble," not foreclosures, which are helping homeowners "escape a prison of debt." » Read More
SUNIL SETHI REAL ESTATE
To access most updated listings on MLS from your phone, Download my FREE app from "My Mobile App".