Bank of America faces many more problems with its mortgages. These problems stem mainly from the acquisition of Countrywide.
Seventeen loans were subject to independent review and seven had “material underwriting defects”. This is a failure by the bankers or underwriters to conduct proper due diligence.
Many states have seen foreclosure proceedings halted or slowed down. This has been widely reported. Just recently, I saw the story of a man who lived in his home for five years and never made any payments.
We are now a nation of many squatters.
The guillotine will not be kept up indefinitely. The days are running out for execution.
Some foreclosure proceedings are already resuming. Many more are likely to follow in the near future.
It’s a great time for real estate agents. A buyer’s agent is a great choice.
These deals are also great for real-estate agents.
The coming tsunami of foreclosures will open up huge opportunities for those who don’t have a license and are looking to move around or make investments.
Get started now. Do your research now to be ready for when those deals come up.