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August 03, 2009


Sherry Z

Added note to foreclosure issue:
3 reasons for more foreclosures coming=>
1) the ARM crisis is just beginning to rear it's ugly head-given the drop in home prices, refinancing won't be realistic

2)Municipal Defaults-local towns and counties
are feeling the pinch with foreclosures and tax
defaults draining their coffers. And when a town
goes broke, it will put their resident's property
even further underwater.

3)Commercial Real Estate Collapse-The second
largest chain of malls has already declared

As you said--let's get busy! Look, you can either be a victim of this economy, or you can swing it to your advantage by learning
to find and rapidly resell short sales.

Doesn't that fit in with "Income for Life" principles PLUS 'giving back'?

Sherry Z

Rob, while I completely agree with most of what you wrote...NOT everyone is a whiner and deadbeat who is in foreclosure. Oh yes, we have come across plenty who defrauded the lender and still are doing that. However, over half of the foreclosures and BK in the US are related to medical expenses. Another huge portion (and rising) are job losses. THOSE are the folks we really bust our buns to help. And we are even beginning to see new foreclosures coming due to credit card debt and loss of house values...folks owe way more than the house is worth. Of course getting a HELOC to buy two new big trucks didn't help ;-(. NOR did following what many of the infomercial and seminar 'investment gurus' told people to do. ANYWAY--yes, the correction is of our own doing for the most part and much needed--let's get busy!

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