New Wave of Foreclosures May Be a Good Sign for Investors
According to a recent article by NREI (National Real Estate Investor), there may be a spike in new foreclosures as banks take action on backlogs of bad home loans.
"Legislative and legal dams have held back some foeclosure activity for years," says Daren Blomquist, vice president at RealtyTrac, a data firm that tracks foreclosure trends. "In states such as New Jersey, Massachusetts, and New York, a flood of deferred distress from the last housing crisis is finally spilling over."
Many of these properties have been in default for a long time, and may even be vacant. They may eventually sell at low prices that drag down overall home prices in their markets. These thousands of home may also provide an opportunity for investors.
To read the full article, visit: NREI