More News
- Page Two
- News Links
Anarchives
Radio/TV
- Declare Your Independence with Ernest Hancock
Letters To Editor
- List of Letters
- Write a Letter
Join Us
Marketplace
- Buy Stuff - Sell Stuff
- Store on CafePress.com
Special Editions
RSS Feeds
About Us
Log-In

Make a Comment • Email Link • Send Letter to Editor

IPFS News Link • Housing

Foreclosure Inventories Rise to All Time Highs

12-01-2010 • thetruthaboutmortgage.com/

As of the end of October, foreclosure inventories were 7.4 times higher than the historical average and rising. This is due in part to accelerated foreclosure referral activity over the past several months, along with various moratoria lengthening the foreclosure timeline. To that end, loans in the process of foreclosure but not yet taken back by the mortgage lender (bank-owned) are approaching an average 500 days past due. That means plenty of free rent for homeowners unable to keep up with their mortgage payments, and a sizable shadow inventory. And while six and 12-month delinquent loans are moving to foreclosure at a higher clip, extremely delinquent loans (12 months + late) continue to swell.

Read Full Story

Reported By Jack Gregson

Make a Comment • Email Link • Send Letter to Editor