The government missed this one big time

Hey D.C. Here,

While the government was out trying to solve the country’s residential foreclosure epidemic, they completely forgot about all the commercial properties that were bought over the last 5 years for way more than they should have been bought for.  While the government was creating programs that only made the foreclosure situation worse by introducing programs like HAMP and HARP, they forgot about the real 900 pound gorilla which is the commercial mortgage sector.

They are now switching their attention to commercial mortgages and they will probably make the situation worse just like they did with residential. The small local banks have some major problems because these big commercial mortgages put a huge weight on their shoulders. Most of the portfolios are made up of commercial mortgages and the FDIC is taking them down one by one.

I know this will come to a shock to you but this is reality. There are five states with commercial mortgage delinquencies over 10%.

Nevada, Montana, Michigan, Arizona and Florida

All of the other states are close to these delinquency rates. There is no shortage of commercial foreclosure opportunities right now and it’s much easier to get in this game than it used to be.  Commercial loans that were originated in 2006-2007 have doubled this quarter and are defaulting at 3.95% and 4.28%. Loans originated in 2008 are defaulting at 7.82%. Pretty eye opening huh? That makes it easy for you to find which properties to go after.   

If you think that’s bad, check this out. These are the delinquency rates for the different types of commercial properties as of October 2009:

Office           2.29%

Hotel             6.81%

Retail            3.55%

Multifamily     6%

Industrial       3.09%

We are seeing the same signs of what the lenders did during the 1981-82 and 1990-1991 recessions. There were more millionaires made during those in commercial real estate than any other time. It’s happening again and I’m going to clean up.

Do you want to join me?

Here is your invitation:

http://www.dcfawcett.com/go

Talk to you Sunday night if you accept my invitation,

DC

P.S. Nothing will be sold on this webinar. This is straight up training because I want to bring our partnership to the next level with commercial foreclosures.

Get in here before we’re 100% full:

http://www.dcfawcett.com/go