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How long will foreclosures persist?
Flat or bumpy pricing isn’t enough – because homeowners on a tight budget can have a single life-changing event that forces them to sell. They need a rising market to be able to break even with costs, and with little or no penalties or stigma attached, we’ll probably see a steady trickle/stream of foreclosures from now on.
I saw one today where the seller, who purchased using FHA on 9/30/09, was already short-selling!
We offered to help here, where the previous owner had lasted less than a year: