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IPFS News Link • Housing

Realty Trac: $5 Million Dollar Homes the Next Foreclosure Wave

RealtyTrac is forecasting that Houses with $5 million+ mortgages will likely be the next class of loans to go belly up. While the overall numbers are small, they expect to see a sharp rise in foreclosures this year. In all of 2009, there were 1,312 houses with $5M+ mortgages scheduled for foreclosure auction; in the month of February 2010, there 352 homes nationwide in this category.

1 Comments in Response to

Comment by Found Zero
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Excuse me did someone say FORECASTING? The ALT-A wave? I think that's called five or six or sevencasting. Refer to Denninger.