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It may take more than four years to clear the "shadow inventory" of distressed homes lurking on the sidelines in the U.S., a factor that’s likely to undermine real estate prices as the backlog.
The non-agency shadow inventory will take more than 40 months to clear, according to projections from Fitch Ratings. The ratings firm pegs the shadow inventory for non-agency residential mortgage-backed security (rmbs) loans at 1.5 million. For all loans, the total is closer to 7 million.
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Small agency loans, which are less than $200,000 represent 75% of the agency shadow inventory by loan count, and close to 1/3 of total shadow inventory, agency plus non-agency, explained the report. "If the program does not take off, growing investor interest will clear the inventory over time, but that will take a good deal longer," analysts.
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Home Sales: Shadow Inventory to Linger. With around 7 million homes lurking in the wings on the verge of foreclosure, the inventory of homes waiting to be sold could take more than 40 months to.
Halting of foreclosures cut sales of distressed homes as well as add to already enormous shadow inventory of homes. Confidence in the legality of repossessions will cut foreclosure sales more than.
EXCLUSIVE: Freddie Mac settles with David J. Stern law firm Fannie Mae and Freddie Mac, Stern’s largest clients, canceled contracts with the David J. Stern law firm. Years after the Florida bar started investigating Stern, it wants to disbar him. This week, Judge Nancy Perez agreed.
The remainder is known in the industry as “shadow inventory. only 1-5 months away from hitting that will take total foreclosure counts back to all-time highs. This will flood an already.
Nearly five years after the foreclosure crisis started to take hold in. county region, or more than 40 percent of total sales. "With so many foreclosures, it’s like walking up to two stores side-by.