Can you tell us more about trends in foreclosure, the % discount off prices, whether these are financed or cash-only, etc.? Although I am waiting until prices start climbing back up before I buy, I am curious how fast this is unraveling?
What do you make of another thread where sdrealtor noted a bank back East was letting a defaulting borrower keep his house, by rewriting the loan amount to today’s housing market value? Why don’t your lenders do that, instead of foreclosing on the borrower?
