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Investors anticipate a Foreclosure Bonanza in 2021

Chandler

Junior Member
Joined
Mar 16, 2012
Professional Status
Certified Residential Appraiser
State
Arizona
That would certainly be nice from an investment perspective, but I think it will be more regional than widespread. Nothing like 2008
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Just local, foreclosures have jumped from an average of 2 a month (reverse mortgage settlements) to 50. However, they can’t be settled until after DEC 31 on federally Owned mortgages (Fannie/Freddie/FHA/VA).
 

Overimprovement

Senior Member
Joined
May 31, 2017
Professional Status
Certified Residential Appraiser
State
Kentucky
I think 2022 will be the year, and not as bad as predicted. From forebearance through foreclosure, lis pendens, sheriff sale and hitting the market can take from 12-24 months. And I think many banks learned a hard lesson in 2006-2010, that foreclosure is not always in the financial best interest of their stakeholders.

I rather predict 2 things: 1) a large amount of restructured mortgages, with missed interest being added on as principal to the back end of the loan. 2) A fairly large wave of commercial foreclosure activity, which could really re-define sectors in some smaller markets. That's where the money will be, swooping in to pick up office buildings, restaurants, and small retail centers.
 

James Mpls

Junior Member
Joined
Apr 4, 2010
Professional Status
Certified Residential Appraiser
State
Minnesota
Sad situation but I have been anticipating this since February and March. I’m ready to switch to REO mode. The wave after the Great Recession was exhausting but I have another round left in me...
 

Charles West

Sophomore Member
Joined
Sep 14, 2004
Professional Status
Certified Residential Appraiser
State
California
I'm kind of with Overimprovement on this one. I don't think there will be a wave of foreclosures just a bunch of modifications. Much heathier in long run but would hate to be an insurer or pension fund, they are going to take a pretty good haircut
 

jay trotta

Elite Member
Joined
Feb 8, 2004
Professional Status
Certified Residential Appraiser
State
Connecticut
On the Res side, haven't seen anything like this before; Limited jobs, Limited earnings after restructuring and truckloads of properties, in limbo land. All those new sales, overpriced housing, who knows what's coming, Underwater market ?
It can be stalled off only so long, 2008 totally different market. We have never seen so many business's go out before, in just the restaurant & bar industry alone that may not sustain another 6 month cycle (thousands have already closed); New England area, outdoor eating in the Cold will wear thin fast, even with heat lamps and so forth.
Heads up, it can always get better, the question is, When ??
 

Lee in L.A.

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
I suspect the stimulus / big increase in the National debt will just slow down the process of the fit hitting the shan.
We'll see.
 

Evincere

Thread Starter
Elite Member
Joined
Dec 30, 2002
Professional Status
Certified Residential Appraiser
State
Florida
Duplicate deleted
 
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