Quote:
Originally posted by Cletus Miller
In a lot of places, yes. There are several new condo buildings in Chicago where, a few months after the initial closings, about 30% of the units are listed for re-sale. Parts of Florida and Las Vegas are likely worse. No doubt, the foreclosures in Michigan ad Ohio aren't being driven by flippers.
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Has that case where the Fed Judge dismissed a foreclosure action because the owners of the securities couldn't get the original mortgage papers caused any reverberations? I read the ruling and, after cracking up a bit, thought "Wow, what a gift for lawyers. All those billable hours tracking that stuff through the pipeline."
