We've been talking about this in our office (and here) for nearly a year now. That is, the need to address the rising amount of homes in distress. We've experienced a tremendous increase in homes underwater, and I having been raving about the alternative of short sales to foreclosures for awhile.
Check out this article from Bloomberg. Reports are that the mountain is finally moving a bit....and we certainly have seen that in our office injust this past week....especially with loans at Wells Fargo.
Hold on to your mustard seeds. We have faith that this market will turn around. But we've all got to roll our sleeves up.
See ya on the other side.