“HAFA” – Foreclosure Warning Dead Ahead! – The Market Ticker.
Don’t forget that we have a second wave of massive foreclosures coming Alt-A and Option-ARMS which are going to either reset or recast. Now they are going to send another wave of defaults into the market as per a post I made back in December of 2008(courtesy of Barry Ritholtz and CBS). Now on top of this the Fed is going to force(which they should have done YEARS ago) homes that are zombies or in first stages of default to flood the market. Housing prices are going to crash. I find this to be intentional by the Fed. there is NO way they they did not know that this is going to crater housing prices. This is going to exacerbate the coming wave defaults and foreclosures on top of the mortgages that are going to be defaulting this year. Also signs in the credit market say something is affot..