Long Delays in Foreclosure Processes Conceal the True Representation of Shadow Inventory

Lender Processing Services (LPS) released their February Mortgage Monitor report this week revealing “There are 6.86 million mortgages in some states of delinquency or foreclosure nationwide, an 8.80 percent delinquency rate, and 2.17 million of those loans are 90+ days delinquent and 2.2 million are in foreclosure.”  Thus, LPS believes that the backlog of foreclosures “may be as great as 30 times the monthly sales volume of already foreclosed homes.”  http://bit.ly/faq3TS

Share this article: