Tags: bank | foreclosures

Banks Sitting on Rising Pile of Foreclosures

Wednesday, 08 Apr 2009 12:43 PM

A vast "shadow inventory" of foreclosed homes that banks are holding off the market could wreak havoc with the already battered real estate sector, industry observers say.

Lenders nationwide are sitting on hundreds of thousands of foreclosed homes that they have not resold or listed for sale, according to numerous data sources. And foreclosures, which banks unload at fire-sale prices, are a major factor driving home values down.

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A vast "shadow inventory" of foreclosed homes that banks are holding off the market could wreak havoc with the already battered real estate sector, industry observers say.Lenders nationwide are sitting on hundreds of thousands of foreclosed homes that they have not resold...
bank,foreclosures
73
2009-43-08
Wednesday, 08 Apr 2009 12:43 PM
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