Foreclosure opportunities coming? ...Just got this from Chase:

[Alicia Sierra]

"We are experiencing an unusually high volume of 90-day defaults and are expecting a significant release of properties...."

I am an investor agent in St Louis and a Chase referral agent -- they are soliciting REO agents - -

I started selling at the top of the 2008 crash.  This is a strange combination as inventory is low in the starter home space so I do not see prices bottoming out in our market, but there may be opportunities for both edged out owner occupant buyers AND landlords and flippers. 

[Chris Seveney]

@Alicia Sierra

While a lender may be experiencing this, there are two factors going against this

1. Unlike 2008 people have a significant amount of equity. We buy distressed notes and 90%+ of our defaulted borrowers file BK so they can keep their house. Makes sense since they have no place to go since rents are more than their mortgage

2. Banks are better equipped and govt has instituted more programs to keep borrowers in their homes

While delinquent loans will rise (they are at all time lows), I do not think we will see a significant foreclosure wave except in class C and D areas which always get hit the hardest