[quote=jpinpb]Also – it would have been nice if Mr. Mortgage would have mentioned SBX2 7 Senate Bill in California (especially since I emailed him)[/quote]
I’m not here to defend Mr.Mortgage, but I believe his predictions regarding the next foreclosure wave includes the entire country, not just California. And the California bill “SBX2 7” doesn’t go into effect until July 1st, which means it will have little, or no, influence on foreclosures already in the pipeline that should hit the market this spring/summer. In fact, the California bill will only repeat what an earlier version did, which was to delay the inevitable.
A far more important modification program that could put a serious dent in future foreclosures is the Obama plan to modify 2’nds. If servicers go along with the bribes, sorry, I mean “plan”, that could slow the foreclosure market to the point of being irrelevant.
