2.5 million homes in foreclosure, shadow inventory rising: John Burns

"The housing market is improving because there are more buyers chasing fewer homes. Skeptics of a housing bottom, however, often point to a scary set of numbers: the "shadow inventory" of potential foreclosures-the millions of mortgages that are either in foreclosure or in default.

That dreaded shadow inventory of homes that has captured headlines and gripped the industry and market analysts with angst is beginning to make its way out of the darkness, according to John Burns.

The so-called "shadow inventory" of homes — those with severely delinquent mortgages, in foreclosure or already repossessed that have not yet been put on the market — has significantly grown since the administration took office and is estimated to range from 5 to 7 million homes. Through June, borrowers in foreclosure have been delinquent for.

Mortgage delinquency rate drops 18.4% annually: LPS 2.5 million homes in foreclosure, shadow inventory rising: John Burns Congress, Wall Street will cause the next financial crisis The mortgage delinquency rate in April dropped below 6.5 percent for the first time since July 2008, as the foreclosure inventory fell by nearly 25 percent year over.

Treasury doesn’t want former Fannie CFO in GSE investor lawsuit Government Sponsored Enterprises (GSE), such as Fannie Mae and Freddie Mac, will be hit with losses on mortgages they guaranteed, packaged into MBS, and sold to investors. Some of the losses will be borne by private-sector investors via risk-transfer securities. The.

The payment arrangement will be counted into the debt-to-income ratio for the new home loan. Jeremy Radack. senior vice president of research at John Burns Real Estate Consulting. "We did a quick.

The problem of shadow inventory has been widely reported on, but difficult to quantify. A new report out of John Burns Real estate consulting estimates the added supply at 10 months or about 4.7.

John Burns shared his 2013 new home sales forecast with me, and it was around 450 thousand (he was close for 2012).. Hanson argued there is a substantial "shadow inventory" that will come on the market.. (LPS puts the number of properties delinquent or in foreclosure at 5.45 million).

vice president of John Burns Real Estate Consulting, said roughly 25% of the builders they surveyed the week FHA announced the revised rule anticipated either a delay or losing up to 60% of their.

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“The region’s relatively high affordability and its suppressed housing supply, held down in part by the construction-labor shortage, put pressure on rising demand, further depleting already dwindling.