Ok, I keep hearing there is a new round of foreclosures coming up ---for over 6 months now!
What happened? This is what happened...the federal government put a moratorium on foreclosures. Then they extended the deadline so that banks would work on loan modifications with those facing foreclosure.
Another mortgage rate reset is coming up. SO ...if the federal instructions to do loan modifications ends, that means a new round of foreclosures by the end of the year or by January of next year.