Another Wave Of Foreclosures?

Listening to a business news channel and I hear, apparently, that there is another wave of foreclosures on the horizon. This is due to the huge jobs losses that have occurred over the last 8 months and more. Some of these guys will not make it and as we know; no job, no money equals no mortgage payment.

Real Estates experts say we will not a see a bottom to the housing crisis until this wave of foreclosures has worked its way through. And that's true. ...... partially. But we have many government sponsored plans to help alleviate the financial stress for recently redundant home owners. What is now called "The Obama plan" where the homeowner can refinance and still not pay PMI, despite lower property values, is very popular..... I am told. Let us hope this and other government sponsored restructuring plans help enough people out.

In addition I would like to think the banks have more brains than to flood the market with more real estate. Remember Mr Banker you are also starting to accumilate commercial real estate interests (and you have your own, of course), so with any additional deterioration in residential real estate automatically depletes all of your commercial interests.