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Hidden Backlog of Foreclosures

Tempering that optimism is the enormous backlog of delinquent loans, somewhere between 5 million and 5.5 million in serious delinquency.” Lenders are slowing down the foreclosure process. They.

 · However, these discounts come with a hidden price tag attached. Foreclosures are often sold “as is,” meaning all required repairs are the responsibility of the buyer, and for short sales, the purchasing process can last from three to 12 months, or even longer.

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The decrease represents only a bit more than a 9% improvement over last year, and the news gets worse: completed foreclosures were up by 3.8% month over month, and the U.S. still has a backlog of.

The Hidden Benefit of the Foreclosure Backlog: No Mortgage Payments. Some Florida homeowners who have lost their jobs or have otherwise fallen prey to the Great Recession are benefitting from the backlog. As lenders slow the rate at which they are filing foreclosures, many people have been able.

Hidden Backlog of Foreclosures – blogspot.com – For a look at "negative equity", moratoriums, and other foreclosure issues please see Brace for a Wave of Foreclosures, the Dam is About to break. transunion thinks national delinquency rates will begin to fall in the first half of 2010.

HIDDEN SUPPLY. Emerging From the Shadows. Though the backlog of foreclosures has eased, a largely concealed inventory of properties makes some real estate pros uneasy about its effects on the housing recovery. page 32 INVESTOR PULLBACK. Field Opens for Buyers. With investors pulling back, conventional home buyers are re-entering many markets.

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Hidden Backlog of Foreclosures But that also means that there is a hidden backlog of home loans in default that could end up in foreclosure. Moody’s Economy.com estimates that lenders will foreclose on 1.89 million homes in. 10505 NW 60th Ter, Alachua, FL 32615 Why an Unexpected, Nasty Surprise Might be facing florida homeowners This Spring.

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The problem may be most severe in Florida, which has the highest number of foreclosures in the country, according to Rick Sharga, senior vice president at RealtyTrac, a foreclosure information service.