Why has BidDay been selected to sell blocks of properties nationwide discounted down to 65% of market value?

Large Wealth Creation Opportunities are created when Large Problems arise, and lenders are in need to sell large blocks of properties fast and efficiently... with BidDay being their solution.

 Why is this the best time to create wealth?

Most likely this is the LAST Foreclosure Landslide of this magnitude to occure in history due to new lending laws being effective over the next few years.

Recent studies and BidDay research has revealed that there will be 2.5 M foreclosures over the next seven years resulting from buyers jumping into refinance programs without understanding how their loans will adjust several years later.

With eager loan brokers receiving the highest income by placing buyers in higher risk programs (even if they qualified for other loan programs), it resulted in a balloon of loan originations  from 2003 to 2008 that have already started to adjust with devastating impacts.

Statistical projections from an article by Dr. Christopher Cagan,
director of research and analytics for First American CoreLogic

• 32% of short term teaser loans will default due to reset
• 7 percent of market-rate adjustable loans will default due to reset
• 12 percent of sub-prime loans will default due to reset.

 This report does not reference other factors that will lead to larger impacts on foreclosures such as baby boomers downsizing, the US dollar value dropping 15%, medical expenses rising 23% annually, impacts of threats of terrorism, gas shortages impacting rise of costs of goods and services, as well as the stock market declining as baby boomers are cashing out. Overall economy costs have risen and stocks have steady declined as generation X and Y aged people tend to spend 20% more than they make and prefer not to replenish the stock market.

Thus, a 1% fall in housing prices (which is already occurring monthly) causes an additional 70,000 loans to enter foreclosure.  Each foreclosure property affects property comparable values within each neighborhood, causing a gradual spiral downward that impacts the overall region.

Important loan facts:

• A teaser loan that resets from 1.0% to 6.5% resets its payment 97% higher than the initial payment.
• A market-rate loan that resets from 4.5% to 7.0% resets its payment 31% higher than the initial payment.
• A sub-prime loan that resets from 7.0% to 9.5% resets its payment 26% higher than the initial payment.
• It will take 6-7 years for all the loans to reset – the majority of them coming between 2010 and the end of 2013.
• 2010 will be the year of short sales with technology aiding lenders in auctioning properties nationally and internationally.
• Currently only 20% of properties in default are listed on the MLS, with 10%  of the non listed being sold internationally in bulk.
• Once an asset is discounted and sold, that asset will not diminish further in value, it will appreciate at a very small amount until the market regains in aproximately 5 years.