This too, shall pass. Like a kidney stone, but pass it will.
Money was chasing Tech for the longest time. Dot-coms that consisted of nothing but a dubious idea and a roomful of servers had market capitalizations in the billions.
After 2000, money chased housing, leading to today's problems. After that, it was oil. Now, it's gold. My bet? Sooner or later, it will gradually flow back into real estate. Might need to wait for the current gold bubble to deflate, and whatever the Next Big Thing is to start inflating.
All those dollars need to wind up somewhere.
.......This too, shall pass......
It will be unwound. The procedures bypassed aren’t germane to the payments missed nor the original unsold contract.
The original note holder will make the forclosure and provide the proceeds and title to the one holding the bag, less of course a foreclosure handling charge.