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Calm before the next foreclosure storm?

Started by Riversider
about 17 years ago
Posts: 13573
Member since: Apr 2009
Discussion about
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/23/AR2009062303500.html A growing number of American homeowners are falling into financial limbo: They're badly behind on payments, but their banks have not yet foreclosed. The backlog of seriously delinquent mortgages, which so far affects about 1 million borrowers, is a shadow over hopes for a rebound in the nation's housing markets. It masks the full extent of the foreclosure crisis and threatens to depress prices even further just as some parts of the country are hinting at recovery. For lenders, it could portend even more financial losses tied to the mortgage meltdown.
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