Friday, November 7, 2008

Next wave of mortgage foreclosures due to hit

About 7.5 million more homes carry a higher mortgage than what the homes are actually worth today. Meaning if one had to sell, they would need to bring a check to the closing. Meanwhile the Dow appears to be taking another dead cat bounce today as speculators with a little money left are trying to buy up some underfunded stocks. I hope not GM or Dell which are showing major balance sheet problems.

3 comments:

Missy said...

I may be wrong but I think in about 10 minutes that dead cat bounce may turn into a dead drop.

C-Bug said...

Missy, I thought the same thing but it looks like Wall St. was happy. Can't imagine why.

Spider said...

It's a great time to be buying guys. Get out there and buy a few houses or condos!