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.
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3 comments:
I may be wrong but I think in about 10 minutes that dead cat bounce may turn into a dead drop.
Missy, I thought the same thing but it looks like Wall St. was happy. Can't imagine why.
It's a great time to be buying guys. Get out there and buy a few houses or condos!
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