Lenders Slow Foreclosures By 5% in 2010, Boosting Shadow Inventory: RealtyTrac

Home prices remain weak and there is a large shadow inventory of homes in the foreclosure process but not on the market. The Monitor expects foreclosures to rise in 2011, compared to 2010, as a backlog of cases created when changes in state law and lender practices caused a.

more foreclosures in the pipeline in 2010. In several states, moratoria on foreclosure proceedings has led to an increased pipeline of loans delinquent 90 days or more, which could well become foreclosures in the next year. In fact, the real problem in terms of foreclosures is the deterioration in mort-gages once they have entered delinquency.

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Surge in foreclosures signals strengthening U.S. housing market U.S. lenders are notifying more delinquent homeowners they face foreclosure, a step toward clearing a backlog of properties and.

Shadow inventory will keep housing recovery at bay for three to four years Housing Wire Meanwhile, the shadow inventory that is driving down prices in parts of the US is stalling an overall national recovery even though most of the distressed inventory is concentrated in Florida, California, Illinois, New York and New Jersey, according to.

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The November 11, 2010 update is posted here courtesy of RealCentralVA, and the February, 2010 version is included, below, for the sake of comparison. Some highlights: 1. Slide 5: The shocking expected plunge in Third Quarter home sales, on tax credit expiration, wipes out any hope for continued sales gains. Supply far exceeds demand. 2.

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Nevada, with the nation’s highest foreclosure rate, with one in every 95 housing units with a foreclosure filing in the first quarter, actually saw steep decreases in foreclosure activity, with a 26 percent drop in activity from the previous quarter and down 62 percent from the first quarter of 2011.

Government Measures No Match For Second Wave Of Foreclosures When the Obama administration in March instituted programs to help homeowners modify mortgage payments or refinance for lower interest rates, the idea was to curb the foreclosure crisis that has gripped the United States for the past two years.

The Shadow Govt Statistics folks do. The mountains of unsold bank repossessions from foreclosures, properties held in bank inventory, assure a continued home price decline. Low mortgage rates under.

Trust the Shadow Govt. Just as foreclosure auctions essentially go No Bid’ with 90% of the home inventory to move, the mortgage bonds have gone No Bid’ with those auctions in the public view..