[quote=spdrun]svelte: it’s not where as much as what. lower-end (not necessarily bad) condos that would have been snapped up by investors at a given price in 2013 or 2014 aren’t moving as fast this year. the middle and high end markets are still moving well.

bearishgurl: agree that dual-tracking was dishonest. however, i think there should have not even been lip-service to a mod unless there were exigent circumstances involved (job loss, death in family, serious illness in family). miss a few payments outside of said circumstances, house should have gone on the block and become a REO on the MLS.

Failing to analyze and thin before making an expensive leveraged investment is not a good enough excuse (IMHO).[/quote]

Agree on the mods, spdrun. However many (unqualified) borrrowers/mod applicants were TRULY LIED TO BY THEIR LENDER(S) REPEATEDLY, which caused them to attempt to jump thru HOOPS OF FIRE for their lender(s) only to later find out that their TRUE INTENTION was to pursue immediate foreclosure.

Had these lenders been honest from the get go, they may have received keys (and a “broomswept” property) from these borrowers many months in advance of FC and thus saved a lot of time … for everyone involved.