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Originally Posted by cliffdweller  The market is going to be flooded with foreclosures soon, driving real estate prices down even further. If I was a bank, I think I would rather negotiate a one-time modification sooner rather than later, but then that's me.... |
You are correct, there are some 9 million ARMs adjusting this year, we are not even close to seeing the down turn in housing. Especially here in Southern California.
Oh forgot to add, a huge amount of the commercial loans are 5/1 and they will be adjusting 2010 and 2011...