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New wave of foreclosures threatens market


conspiracybeliever

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New wave of foreclosures threatens market

Up to 7 million homes are potentially eligible but haven’t been repossessed

WASHINGTON - The housing market is facing swelling ranks of homeowners who are seriously delinquent but have yet to lose their homes, and this is threatening a new wave of foreclosures that could hit just as the real estate market has begun to stabilize.

About 5 million to 7 million properties are potentially eligible for foreclosure but have not yet been repossessed and put up for sale. Some economists project it could take nearly three years before all these homes have been put on the market and purchased by new owners.

http://www.msnbc.msn.com/id/35832152/ns/business-washington_post/

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