Mass Foreclosures Are Crushing Southern Homeowners

Aaron, so is this foreclosure crisis? Is it nothing? Is it something to be expected? Or is it something like way worse than we could possibly imagine?

Dude, I made this huge announcement last week after auction that said we've hit these record number foreclosures, highest than we've had in like 10 to 15 years, especially in a few of the categories that everybody should be really concerned about right now. 10 to 15 years. This is the worst it's been for 10 to 15 years. Yeah.

The highest highest amount of sales this month, especially in Texas. Wow. Well, let's jump into Florida and see what we're seeing here because we're seeing very similar things. This is Jacksonville foreclosure data.

This is 2025 year to date. And it looks like we're about to double based on this information the number of foreclosures from last year. This data comes from the Florida Housing Data Clearing House. And my title attorney, we we have a JV with a with a title company and one of the title attorneys there is a foreclosure expert.

He said he's already seeing three times more foreclosures come through with the banks reaching out to him and he expects it to 3x from here by the end of the year as well. He is just saying, "Hey, you you need to look at this FHA and VA data because it is coming. The the government has not foreclosed on any properties basically for the last five years. And so why is why is that?" And Aaron, like before we jump into this, tell us who who you are and why you're you're so important for the foreclosure information.

I mean, first, that chart that you have on there is super interesting, right? Because it's saying 2025, just the first five months of the year, you've had 3,000 postings. So, you're going to get up to, let's say, 8,000 for 2025 in your area. You're at 2,700 last year.

That checks out for his tripling, which is going to be more than you've seen since 2019. We're seeing the same numbers out here. So, the I started investing in foreclosures in the first crisis. Uh the first crash, you know, way back in 2009, I bought and sold over a thousand uh foreclosures, buying all of them on the courthouse steps.

I saw many different market trends up and down. Uh when Blackstone got heavy into the market, I was one of the guys they came and talked to out in California. And the other side of that, then I moved my business to Texas in 2015. The company I own in Texas, if you're going to buy a foreclosure in Texas, we are the sole provider of that data, right?

So state statewide in Texas. So we track every single posting. We have people standing at all the live auctions recording how many stuff actually got posted, how much stuff went to sale, and so the I think I know more about foreclosures and the foreclosure trends than just about anybody you could imagine talking to. Perfect.

Well, we got the right person for today's conversation because the numbers are frankly looking pretty scary. And I want to jump into why has this not been a big deal for the last four or five years. And that's because let's look at this. This is the CARES Act, right?

This came out in 2020. They allowed borrowers experiencing hardship to request 360 days, basically a year of forbearance. Services were prohibited from charging late fees and required to report loans and forbearance in current uh as current to credit bureaus. As as time went on, more and more programs came out to help consumers right through this challenging period.

FHA came out with a recovery loss mitigation plan for FHA borrowers and there was another one for VA. So if they're 61 plus days delinquent, they have all of these different options of how they're not go. They typically you go delinquent, you get your list pendants, you go to foreclosure. I don't know if Texas is a judicial state.

Florida is. And for for Florida, it has to go through the through the courts and it can take up to two years. There's not as much of a backlog log now obviously so they can process them more quickly. But this was preventing all of this inventory that otherwise would have come to the market already and helped with the affordability crisis that we have.

Let's go through some of these programs real quickly. Right? There's advanced loan modification. This is permanent repayment relief reducing monthly principal and income by more than 25%.

So they can work with you on the payment. Standalone partial claim. This rearranges place a let's say a zero interest subordinate lean payable at the loan maturity. So it sounds like they're just moving the payments to the end of the loan.

And then recovery modification, it basically adds principal term extended to 30 or 40 years so you can extend the loan period. And then payment supplement, temporary monthly reduction for three years, so that way people can afford to stay in their homes, right? And this is what we're seeing before we're seeing this massive increase in appreciation. Yeah.

The most common one we saw too because we see all the recorded data of this. We see every time that modification happens, it gets recorded. That standalone partial claim was kind of the most the most consistent one, the most common one. Now, some of the lenders at the beginning did the temporary reduction for three years, but the problem was at the end of that three years, they had like a balloon payment that was due.

Yes. So, they said like, "Hey, we're going to reduce your payment by a,000 bucks a month for the next three years." But then, you know, come middle of 2023, middle of 2024, they got a bill that was like, "Hey, now you owe $36,000 to catch back up your mortgage now." And nobody has that. But the most common thing that tends to work out pretty well is they say, "Hey, you're $30,000 behind on your mortgage. We're going to require we're going to record a second deed of trust.

If you ever sell your house, you have to pay that $36,000 back. If you don't sell your house, you're not going to have to because over long-term real estate market goes up." That's how they were. That was the most common. People like that one the most.

It seems like the safest for a refresh and a restart. They now have this second lean on the house, so they probably won't be able to do a heliloc on it or any other ways to cash out. The only the only option they have to cash out at that point is to sell the house. And the and unfortunately, I mean, it essentially just makes the principal go up because the if you had a loan for $300,000, you miss you miss like that many payments.

It adds $36,000 to the principal when normally during that period of time, you would have only paid off every monthly payment you make, you only pay off like let's say three or $400 of the principal, right? It's like they in a lot of cases they could owe more on the house now than they owed when they bought it, right? They could have a loan original loan for 300,000. Right now, their payoff is 320.

That's crazy. Is there any data out there, Aaron, on how many loans have these recovery loss mitigation programs? How many of the FHA loans out there are actually part of these programs? The I don't know.

I don't I don't have the exact data on it. We see it, you know, come up in some of our stats and maybe if we're going to do this call again, I'll try to see what I can dig up. Yeah. I mean, I can only imagine because right now we're seeing prices in Jacksonville fall very rapidly in some areas 10 to 15% already.

And if they bought in the last few years or if they're in some of these programs, we're headed back to like 2019 prices. They're going to be underwater plus this additional debt as their second lean. If they're doing the standalone partial claim. And so I'm wondering how are they going to get out of that?

Can they short sale out of it or do they or does FHA legitimately have to go in and foreclose on them? The, you know, I think I think that the short sales are always going to be an option, right? The they'll always like look at that. It's definitely borrower dependent, value dependent, but it's really tough because when they see it's a zero interest loan, the they're probably just going to push people, hey, just keep making just keep your house.

Keep your house until it actually gets back from from being underwater. But some of my other charts will show a lot of when that gap stopped, like when they put the the moratoriums, when they put a halt to everything in place. Like we'll see that. I've got charts that actually prove that real time.

Uh and then also some of the sales price stuff you're talking about. All right, so let's dig in. Here's the timeline of all the different programs that came out, right? Uh the CARES, the recovery mitigation options, FHA continues their programs, they extend them.

FHA programs remain active. And then towards the end of this year, we see a lot of these programs start to roll off. There's a September 31st cliff for several of these programs. So here's the summary.

You know, FHA borrowers benefited from the CARES forbearance and they were able to do those partial claim options up until April 2025. So those have already expired. Now VA borrowers enjoyed the overlapping protections of the car's act VA specific partial claim VASP programs that ended in May 2025. So these have both ended and then these interventions substantially reduce foreclosures among FHA and VA borrowers during during this time period and its aftermath though many of the programs are now expiring this year or at the end of this year.

So look how bad this is. So, I know Trump came in and brought in new people to run HUD, which is for the FHA in veterans, the VA. And for FHA, they stopped reporting the data in February when they put the new leadership in. So, it got up to like a 15.3% delinquency.

This is nuts. And then they just stopped reporting. So, we don't actually have a clear picture of how bad the FHA situation is, which hopefully they'll start reporting again and we'll be able to see the data. There's FHA delinquencies for no contact.

So, this is a chart of new 90 plus day delinquencies by reason for delinquency. Look at this spike in no contact. They're like not able to get in touch with people. Uh, it basically went from 12.65 to like I guess people just are like not answering their phones.

Yeah, dude. Like the I wish you could see back to you know 10 years prior to this chart because I think that was the most common thing that we saw back in like 0708 as it was starting like yeah people don't even know what to say they don't even know what to say they don't but no contact going up to does that say 18% is what they just had.22 Two, two. Yeah. So, like one out of five people just aren't even responding.

Yeah. That is brutal. That is brutal. That mean they're just going to walk away from their house and they're going to have to be foreclosed on, I'm guessing.

Yeah. The Well, the funny part about that, too, is so many of those programs that FHA and VA program, you had to answer the phone in order to make it work, right? You all you had to do was say like, "Yes, put me into one of those programs." And they would. And so the people had a reason to take the call.

Like they would take the call and they would say like, "Oh, yeah. Can you give me a forbearance? Can you can you defer the payments? And they would just say, "Yeah." Now, I think that part of that jump up is there's no program now.

So, like, what's the point? What's the point of calling like the goes back to like that kind of head in the sand sort of reaction. Yeah. And so, we're seeing that here, too.

So, this is the new 90-day delinquencies. And you can see, you know, it's 205 205,000 new 90-day delinquencies for FHA in Q1 of 2025. And then Q2, it looks like it's starting to to spike up as well. But you can compare it all the way back till 2020, right?

You know, we're all, you know, it's we basically had this relief period where there weren't a lot of delinquencies because of these modifications and now they're starting to spike back up. Totally crazy. And so here's the the HUD Secretary Turner installed by Trump in February 2025, right? Obviously talking about, you know, Freddy and Fanny as well, taking them private.

There's the VA secretary Collins installed by Trump. And Collins came in and immediately, this was March, this is all recent stuff. Collins immediately ended the VAS foreclosure prevention program on May 1st, 2025 for VA. So, they're getting rid of these programs and they're saying, "Hey, this inventory that should be should have been foreclosed on um where people aren't making payments.

We're going to start making people pay." So, now they're sunsetting other programs. So, this is the loss mitigation options are gone September 31st. That's why people are saying October 1st is kind of like the beginning of a new real estate market. So, this means we'll see more FHA foreclosures in 2026, right?

Because this stuff takes time to process through. VAS foreclosures without VAS VA borrowers will lose a powerful foreclosure avoidance option that reduced rates to 2.5%. There's no VA replacement program set for October 1st. So, this is another October 1.

So, fallback fallbacks must now rely on other VA loss mitigation tools. And this was one of the favorite ones out there. You know, just to extrapolate the FHA delinquencies for Jacksonville, right? I'm in the Jacksonville market.

So, I'm in Florida, you're in Texas. They're very interesting states that definitely benefited from the 2020 2021 migration patterns and we had 15.3% delinquencies in FHA. In Jacksonville, there's, you know, 6,900 originations per year for FHA roughly. So, if we just take the last four years, that's 27,600 FHA loans originated.

Multiply that by the delinquency rate and we have up to, you know, 4,200 potential FHA foreclosures in Jacksonville. And that's if that 15.3% delinquency rate is just only that. So the current supply we have is 12,000 active listings. I mean, this could add up to 33% more inventory, more housing supply in coming years just from the FHA side of this.

I didn't look into the VA. Maybe we'll do another call on that. But this the number of uh properties that are basically, you know, going to be foreclosed on is quite significant. Uh, and so that that matches with what the attorney is saying on the ground.

And a picture says a thousand words. Uh, Erin, this is the picture of Jacksonville. You can barely see the name. It's kind of covered up with the green dots.

And we have inventory coming on at 8% new net active listings per week coming on right now. And this started the last two to three months as people just the affordability is the number one issue. They can't afford the payments of of the houses at today's prices. This is just not possible for the for the local people.

So, I want you to talk about your market, right? This is Jacksonville. Let's talk about what you see on the ground in your area. Yeah.

You know, and and a lot of the same stats that you guys are feeling out there. Unfortunately, we're seeing a lot of the same stuff uh in Austin. You know, every market's different, right? There's going to be some markets in Florida that are performing very different than Jacksonville, and there's some markets in Texas that are performing very different in Austin.

There's always going to be these outliers. And you know maybe the most interesting thing about you know the first part that you said now where now the administration is going to actually force the foreclosures through the systems right I've been through a lot of up and down markets like I was a home builder in 2005 which was I would say like a bigger peak craziness than we saw back in 21 and 22 you know 2019 to 21. I saw a crazier market in 2004 to 2006 during that I was in the center of it, right? And then we saw the crash and we saw everything go.

Houses that were $700,000 were all of a sudden selling for $250,000 and we were a new home builder, right? And the and we had our model home was still $750, but houses were getting foreclosed for $250. It's like, oh, I'm like, the prices will never go that way again. But the good news of all of it is once they actually let the foreclosures go through the system, you experience the pain.

There's pain that goes through the system. The economy that the economy like matches itself and fixes itself price-wise and then it starts over again and you get that growth again. The craziest part about that house where that forclo that was worth 700 that that ended up selling for 250 that whole neighborhood I thought oh my god these houses will never be worth 750 again and if you go into that neighborhood today the houses are worth a million bucks y right but they went from 750 to 250 so over time real estate goes up so I've got some charts I'm going to show you here this first one this is like San Antonio which is one of the big metro areas in Texas so that chart on the top is number of foreclosures posted for sale and the ones down below Below the bar chart below is number that actually sold at auction. So believe it or like so this is one thing that people don't always know is that just because a house gets posted for foreclosure doesn't mean it gets sold at auction.

Most commonly it gets sold before auction to like a real estate agent or investor or sometimes it gets repaired or in these cases there's mortorium. But you can look back to 2018 2019 which is like the left side of that chart. Even when there was no special program in place, we would see anywhere from 10 to 25% of postings actually go to sale, right? That's good info to know.

So there's like but the foreclosure postings say say a lot. You can see though in the middle, right? Like fe April 2020 to about January 2021 very bottom there was only like two or three sales a day, right? We went from or a month two or three sales a month based on that.

So what we see right now the top line uh stuff posted for foreclosure the we had more thirdparty sales last month than we'd had in years. And then also when you look at the number of postings for like May and June. So May you know is the fourth highest ever in the past seven years for a one-mon posting. And when you look at May June we can see it's trending up.

We expect ne next month we're going to hit an all-time high uh for San Antonio. Let's jump to that next slide. So this is I thought this was really interesting because this goes to show this has to do with just your FHA. So this is in San Antonio again I tracked the blue line there is just FHA default.

So you could see in 2018 2019 FHA defaults made up for almost half of defaults in the in the city in that county in that area. So it was making up for half then we had the time where everything got shut down and so then then it went it goes really really low but essentially that should be a backlog because at a minimum it should have stayed high but if you look over the last you know now four or five years FHA has stayed pretty balanced right it hasn't it goes up some months down some months but that's like a flat line right but if you look over to the left it should have been even higher so there will be this moment where it's going to pop up because essentially it's like the area of the graph where we were averaging 200 a month in that county FHA the last you know year we've had a hundred a month or last few we've had like a hundred a month because of those mortoriiums we're expecting an increase of there's going to be a five or you know five to six thousand in just that city alone which should have been on that that were held for mortorium based on these stats let's jump to the next one this one I thought was super interesting and this is the part that gets crazy so this is just the VA posting so you said I think your data said that the VA moratorum ideas in just the last couple months got shut down or I guess the deadline is now next month but They started talking about this a few months ago. Yep. You can see that there was like, you know, during for about a year during 2020, there was almost none.

And then from 21 to 23, VA postings were starting to go up. They reimplemented one of the VA, you know, mortoriiums and there was no VA foreclosures for like a year. And now they're turning it back on. And you can see there's more VA foreclosures this month in San Antonio than there ever has been before, right?

Like that's like that's not just like recently. So there's more VA foreclosures in San Antonio than we've ever seen before and it's because of that backlog and that backlog going under. Let's jump to the next one. The So this is like this is just another county, right?

So this is like Austin area, major metro in Texas. And you can see we, you know, foreclosure postings from like 2018 to 2020, you know, pretty standard, a couple hundred a month in the city and then we had these major drops and then now we've had this, you know, this curve that's been gradually going up. Now it's back to these 2018 levels. But the more one of the more interesting things is we're seeing a third of all say a third of all postings actually go to sale.

So, we're seeing more actually sell on the courthouse steps than we've seen since like 2010, right? So, in the last 15 years, we saw more houses actually selling on a consistent basis. That's that bar chart down below. The that's the ones that are actually selling.

So, not just postings, people that are losing their properties, properties that are getting foreclosed on, highest than we've ever seen in the Austin area. And are you thinking of going back in and starting to buy now? Are you seeing these trends? Yeah.

So, the So, that was a big part of my business. From 2015 to 2019, I would buy like 10 houses a month at auction, right? And so the and so it was a really fun business and it was a great business for me. And then when when everything stopped and everything got shut down, I had a really tough time buying.

Now that we're seeing the volume back to where it is, the Yes. Because it because when there's volume like this from an investor perspective, there's lots of deals. And here's one thing you have to think about. There's all these like moral dilemmas people have with foreclosures, right?

But you just showed a chart where one out of five people aren't even answering the phone, right? That means they've probably already left. That means they don't care. They've probably moved out of their house.

They just want the thing over with like the and then so the option is somebody like me or you goes and buys it and they fix it up and they sell it to a new family member and it looks good in the community. Or we see what happens way back in like two 2008 before people 2007208 where the bank forecloses on it instead. It stays vacant and abandoned for like a year or two and then it gets sold and then it gets refixed. So, the fastest way to like improve the neighborhood is for the foreclosure to actually happen for an investor to buy it and fix it up and put it back on the market and sell it to a person.

And so, that's awesome. Let's jump to the next one. That's how it was for me and Britney. We bought stuff from realforclosed.com, right?

And we would get the you would get the deed in 10 days. It was it was great. We made a ton of money doing it. But while we're out there doing the rehab, the neighbors would come over and thank us.

They were like, "Thank you. This house was an eyes sore. I'm so glad somebody's coming in and investing and putting the money into fixing it up cuz it impacts everybody on that street. Yeah, we had so many neighbors that would tell us the stories that would then when people were like trying to break in later, they would tell us about it like Yeah, it really is like the more often than not investors are needed, right?

It's not that we have a shortage in housing. We have a shortage of good housing, right? We have plenty of housing available that's just dilapitated and your normal FHA buyer doesn't have 30 grand to fix it. Like investors are needed to like take that property, fix it, so now someone can come buy it with a 3% loan and move into a good nice house.

Like I think overall like flippers like save the market and they provide housing that not all of them are great. I know there's always horror stories, but the vast majority of flippers are are drastically improving the market. I was going to talk sales price for a minute. So this is like the you had mentioned in Jacksonville.

So this is a median sales price chart for the city of Austin, right? Austin Metroplex. And so the on the bottom we see, you know, year and up and on the left side we see pricing. So this is that idea that over time, no matter what, like prices go up in real estate.

They do. That's pretty much in line with inflation, right? Like I'm sure you've talked about that a little bit on here. I made a certain date, but overall real estate just goes up over time.

It's a hard asset. Inflation does it. And you can see the c the curve goes up and down based on the seasons. Like in the summer prices go up.

In the winter prices go down. But from 2013 to 2019, you can see this really consistent. Here's the other crazy thing about the real estate market and like by city, every city has one of these charts that if you go back like 20 years, it's consistent forever. So it's like forever like West Coast performs different than than Central that different than East, but the pricing should have always followed that black line, right?

If nothing happens, the price follows that black line forever based on inflation. Well, we had some very extreme things happen that made Austin a place where everyone wanted to move in 21 and 22. And so, everybody moves to Austin. When everybody moves Austin, prices go way up.

Look at that median price jump. In a 12-month period, we went from like, you know, 350 to 450 for a median sales price. In a 2-year period, we went from 300 to 550. So, we almost doubled.

Housing prices doubled uh in a two-year period. We haven't seen that in a long time. Now, what goes up must come down. So, that also means as real estate investors, especially ones that bought in 21 and 22, we are getting our butts kicked out here.

So, we are down 30% from that peak. So, if you bought a deal in 22, you're underwater and like not okay. But like like the interesting thing about that sales price, people like, hey, is now the time to invest in Austin again? Right?

You can't really buy the dip. It's impossible to buy the dip, but you want to buy close to the bottom or you want to buy like within 10% of the bottom. And when I look at this chart, I go, "Yeah, we're within 10% of the bottom." Because we've seen this happen also back in like 08 and 09, right? Prices are going to get back to that black line and follow it.

And now we're pretty much there, right? So Austin, like we've balanced out. So well, 30% is a crash, right? 10% is a correction.

So this So Austin has already crashed according to this chart and now it's just going back to mean reversion and been back to the trend line. Yeah, we have already Austin Austin Austin had a huge bump has already crashed is now down at that trend line and probably why we've seen so many more of those foreclosures as a percentage sell over the last year. Again, you need those foreclosures for the market to balance and now it's in balance and I think now we're going to see a more consistent market here. The So, let's see.

So, this one is like Dallas County again just shows a lot of the same things we saw before. You know, number of at the top it's how many houses are posted for foreclosure. We saw a big drop and then now it's gradually going up every month and then Jacksonville, Florida. So, this is I took that same sales price with your market and I was and I'd be curious about like your opinion on this because this is that same stat I just showed for Austin of you know you look at 2013 to 2021 like that's the trend line the prices should be on forever.

I will say like the one exception that I have found is like uh Bentonville and Fateville, Arkansas. Now, the reason is they had big bumps over the last few years of Walmart requiring like every corporate office to move their corporate office to FA Fateville and Bentonville if they want to to be there. Other exceptions would be like SpaceX building a new city down in like South Texas. So, there are certain things that could make you go above the trend line and stay.

So, there's two different two different things that could be happening in Jackson. One, maybe it still needs to come down to that trend line. Or two, maybe something has actually changed the whole market where the trend line can jump up and be successful. Well, so we had this massive migration during certain periods of time and and now that migration has stopped.

The builders completely overbuilt Jacksonville and the prices are so far and above and beyond what the median income is for the area that prices are declining very rapidly. So, I think this data is probably just a couple months behind, but we're starting to see declines of 10 to 12%. We're in a correction currently, and I expect fully expect a crash just like Austin. We're going to have periods where the prices will come down 30% from the from the peak.

There's already specific areas like the condo markets really hurting, the townhouse house market. It's it is all a function of payment. And when payments go from $1,200 a month, you know, pre, you know, in 2019 all the way up to $2,400 a month, but wages haven't really moved much, it's a huge problem. The locals are priced out and the only people who can really buy are people relocating here and the re relocations are down 80%.

So, we expect a crash. Uh, that's like the base case is a 31 to 39% decrease from the peak, which honestly isn't that much cuz we just saw it go up so fast. It has to come back to mean reversion. We do expect though Florida tends to overcorrect and that's when the opportunities tend to happen, right?

It it goes to the upside with a bunch of speculators. Florida's a very speculative market and then it goes to the downside on the speculation as well. So, you know, it it could be up to, you know, during the great financial crisis, it came down 36% in Jacksonville. I don't see why it would be any different this time because just because of the trends that that are happening and Florida has a negative birth rate.

So it has to that the buyers have to come from migration. It's not going to come from within. They have to be jumping, you know, and you've got and every like four years you have extra reasons why people move to Florida or leave Florida. So, I should say I pulled this data from Redfin Data Center and the and if you are if your listeners are in Jacksonville or you personally in Jacksonville, maybe find maybe getting data from your direct MLS is going to be like more accurate or more timely because yeah, I think they've I think maybe for Jacksonville they've only hit like the first quarter right now for 2025.

But but but the so I would not be surprised if what you see is a correction that drops your median price down to like let's say 225 right below that line and then that's your opportunity because you should get back to where that black line is. Yeah. So and that's like from beginning to end for the last 50 years you could do real estate prices and it's a straight line in every city that you're in other than these big events and then it goes back to the straight line so that if you fall below you know where your opportunity is going to be where you're going to get to. I love it.

I love it. This is this just shows that whole idea of like what the mortorium really was. Exactly, right? Like this is real hand real real data where my people are there recording the actual sales like yep nothing actually sold this month we're seeing the sales the the the actual stuff that's selling uh go way up highest in five years for that area.

I jump to the next one like the Dallas sold is is very very similar. We're getting these spikes but now it's it's it's as if you know they're almost back to the numbers as if nothing has happened. But it shows you where the opportunity is to grow. You can look back to way the beginning.

We had like two We used to have 200 plus, you know, sales sales a month. Like that'd be one day. So it's one day a month all the auctions happen in the state of Texas. They're all at the same time.

And so we get back there. Yeah. Because this wasn't even crisis time when that was happening. That was like normal healthy market time.

Yeah. So I think we will get back there. Wild. Well, thank you for the listeners for joining here.

Uh this was a great conversation with Aaron and you can follow more for more information about Jacksonville. I'll drop my information on the Substack. I share stuff there that I can't share on YouTube. But Aaron, where can people find you and I can drop your information below as well.

Yeah, I would love that, man. The best place for a conversation is on Instagram. That's Aaron Amucha. It's a A R O N.

If you type in Aaron AM, you'll probably find me. And then if you want foreclosure data, the I've got two websites for that. John, I'll I'll drop I'll I'll talk to him. If you want to bleep them out, you can.

So, uh, prop hawk.com. P R O P H A W K is where I have a lot of national foreclosure data or for Texas foreclosure data only it's flonline.com. John, thanks for inviting me on, dude. This was a lot of fun.

Yeah, thanks so much. Appreciate you. See you next time.