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Forums > Homeowner Association > HOA Discussions
Subject: Foreclosure News 24 Feb 09
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RobertR1
(South Carolina)

Posts:5164
02/24/2009 9:08 AM  
Go to
http://abcnews.go.com/gma

Click on Foreclosure story.

This could be BIG news and is apparantly real and serious.
The upshot of this could mean that thousands and thousands of Mortgages will be delayed for months and months until "Notes" are found and produced.
Good for some, bad for others I suppose but if real, lots of folks may not be so much under the gun and hopefully can have more time to get back on their feet. I am not sure what the fall out of this could be, if it is real.
Certainly the associations will be effected if they have units in foreclosure. It would probaqbly mean lots more money would have to be made up in the long run. But if some of these notes can't be produced within a reasonable time, it could mean the Mortgage companies in coustody of the notes may want to wheel and deal some more and maybe cut down on the total of foreclosures if folks can make smaller payments.

What do I hear from the countryside?
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Forums > Homeowner Association > HOA Discussions > Foreclosure News 24 Feb 09


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