Next Wave of Foreclosures Over 1.5 Million

Many homeowners are facing foreclosures as the banks start foreclosure proceedings, quick to act on foreclosing homes banks are apparently anxious to start kicking those owners having difficulties out of their homes.

With a large percentage able to continuing making payments if allowed a loan modification, other homeowners fall into the category of they just can’t afford the house, because of loss of jobs, hardships and more.

The banks are ruthless when it comes to negotiating ways to keeping people in their homes.

This is really where the government needs to crack down on the banks and mortgage companies and investigate their practices. Is there a hotline where a government agency could intervene on the behalf of owners and ask why banks are either not acting or active out of some irrational agenda?

If you are an investor, is this a good time to buy real estate? Perhaps if you are able to buy the property at well below todays market prices.