Sunday, March 14, 2010
Some economists likely expect a second major wave of foreclosures as many home buyers are continuing to fall behind on their mortgages, in spite of signs of a recovery. However, the housing market appears to be stabilizing. This next upsurge in foreclosures could cause more disruption and push prices down farther.
Housing experts say that the recent favorable housing data doesn't reflect the number of properties that banks have left in limbo - repossessed, but not yet on the market.
According to Massoud Ahmadi, director of research for the Maryland Department of Housing and Community Development, the lenders are deluged by late-stage delinquencies. The pent-up foreclosure inventory is still there, he added.
Housing experts say that the recent favorable housing data doesn't reflect the number of properties that banks have left in limbo - repossessed, but not yet on the market.
According to Massoud Ahmadi, director of research for the Maryland Department of Housing and Community Development, the lenders are deluged by late-stage delinquencies. The pent-up foreclosure inventory is still there, he added.



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