this foreclosure mess is a whole lot bigger than anyone wants to talk about in my opinion. First there are the buyers who cant buy: click then there are the lost commissions to the used house salesmen, and oh yeah what about the non performing asset on a banks books?
could this indeed bring down the banks? could the overload of inventory when it finally... reaches the market, over stress the court system and put prices in a death spiral?? good questions.
then there are the title issues. click
we read about some guy that bought a house in Dade I believe that was a short sale only, paid cash and the bank still proceeded to foreclose because of faulty paper work. He ended up with expensive legal bills and still no house. be careful out there. we wouldnt be surprise if this happens again due to faux paperwork.
Foreclosure law firm in question: click
Foreclosure mess could unhinge market... gee ya think ? click
old news still relevant: foreclosures could ruin florida:click