“Gnarly Suds Dude” – The Foreclosure Tsunami is Coming

If you know anything about foreclosures and bank owned properties, you know they are plentiful out there.  The market is awash in bad debt and bank owned properties. I’ve been buying bank owned properties (or REO’s) for over a year, and in that time it seems the tide of available properties has risen, fallen, risen again – and now it seems the banks are holding back a bit.

But even those sitting on the sidelines know the the banks are holding back a veritable crap pile (that’s a technical term) of houses.  The word on the street for the past few months is that the banks are about to unleash the motherload. Ask anyone in the business of moving bank junk, and they’ll tell you – “The Tsunami is coming.”  Check out what the info-heads at CNBC have to say (see below).

If you want my two cents – I quite frankly don’t see it. But maybe I’m wrong.

What do you think? Will there be a flood or a trickle?

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