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

By Implode-Explode Heavy Industries

"James Saccacio, CEO of RealtyTrac, said at the current pace, more than 3m properties will receive a foreclosure filing by the end of the year, and lenders will repossess more than 1m of them. According to a report from the Toronto-based Capital Economics, the weight of the shadow inventory may contribute to a double dip in the housing market. The report found that for every home currently on the market, two homes are waiting to be sold."

Full post as published by Mortgage Lender Implode-o-Meter on July 15, 2010 (boomark / email).