I suspect that we are in for a tidal wave of strategic defaults.

http://www.dailypress.com/topic/sc-biz-0318-walkaway--20100317,0,6060112.story

66 year old buys in 2006, now underwater, see's no chance that it'll ever be worth more than she owes in her lifetime, and walks.

It's n...

The last one I negotiated they waved all attorney's fees, late fees, and interest and just had me pay the 6 months HOA fees.

The article also predicts that the next wave of foreclosures will push the excess supply to 21 months.- Ken G.

We keep waiting for the next "wave" of them to come on the market but so far it's been 1 here, 1 there so the choices have been pretty slim the last few months.One thing my realtor mentioned is she expects a considerable slow down in those buying homes due to the $8k tax credit ending a couple days ago.

Foreigners may have no protests; no demonstrations, no waving of aforeign flag, no political organizing, no bad-mouthing our president or hispolicies.

Also, that would create another huge wave of foreclosures.

Unfortunately, trying to get the bureaucrats at large to do anything logical that may actually "cure" our crisis is nearly impossible - at least before the next big wave of foreclosures.As the wise man sayeth: The only way to get something done is to do it yourself!

People came out of their homes to smile and wave.

The next "wave" of foreclosures hasn't happened yet.