A couple of weeks ago Fannie Mae and Freddic Mac (backing most home loans) lifted a Bank Foreclosure Moratorium. I was concerned that the recent 80% drop in bank foreclosure inventory might be a temporary blip with an oncoming tsunami of bank foreclosures.
After hours of dead end research. I decided to call my buddy… Jim Cramer from CNBC’s Mad Money. I thanked him for picking my birthday (June 3oth) for the bottom of the housing market, and I proceeded to ask my pal about the Virginia housing market and bank properties.
(EMail readers? Click to see the 2 videos.)
Do you agree with Jim?
Don’t forget to subscribe to this blog (upper right corner of the blog) and share it with friends and facebook.
Written by Frank Borges LL0SA
p.s. While researching, I found a blog post by Virginia’s Cindy Jones on the topic of Bank Moratoriums. Also check out this detailed post with a great chart.