Foreclosures are not the problem, foreclosures are the solution. Houses wont sit empty, they will be purchased for what they are worth and what buyers can afford to qualify for at the time.
Don’t forget, mortgage rates are near the lowest ever, yet millions cannot qualify for one reason or another.[/quote]
This cannot be repeated enough. So many people still don’t get it.
It’s not a “foreclosure crisis.” The crisis occurred when credit was expanded to such an extent that housing prices became so unaffordable that foreclosures were **guaranteed** to happen.
