Monday, September 13, 2010

Analysts see clog in foreclosure pipeline improve, but more delinquencies coming

Another post today concerning the shadow inventory.
While monumental efforts to prevent foreclosures are under way through government intervention, mortgage modifications, workout plans and nonforeclosure home forfeitures, the clogged foreclosure pipeline is only going to get more congested. During the past three months, the analysts said 70% of loans in the 60-day delinquency bucket move to a worse delinquency bucket, while on 15% go back into an improved status.

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