30% of mortgages are underwater

[MJ DeMarco]

Sometime, somehow, the foreclosure crisis will ease. But probably not anytime soon.

More...

 

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[John Rogers]

Property values are in the toilet indefinitely. Lots of desperate sellers (including the lenders) are creating massive opportunity for those able to take advantage of it.

 

[andviv]

I love to hear about how people are taking advantage of this opportunities in a creative way (not the usual "bought it 75% of FMV and will hold it for 50 years and hope to sell it for more)

Are people raising money from investors to buy in wholesale/bulk and resell through the MLS?

Calling banks, asking them to get a loan from them to take the houses?

Buying blocks of properties (I mean, properties on the same block) and leasing them big time?

 

[julien515]

Does anyone know how to get the contact info for a home owner in pre forclosure? I am signed up on a site that sends me a list of homes in foreclosure/pre foreclosure every month but I cant find the homeowners contact info. I found a phone number on white pages but the numbers are always wrong.

 

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