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shadow real estate inventory

Homeowners in limbo real `hidden’ inventory

by Moe Bedard

Fact is there are no prescribed time periods for either scenario. Because of this arbitrary manner in which homes become official statistics, there’s a chunk of homes that miss the radar screen of economists.
This “hidden inventory,” as it is known, is the subject of much debate.

Are banks holding back properties to keep prices stabilized in [...]

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Banks hold record delinquent mortgages

by Moe Bedard

The ratio of first mortgages 90-days late in Orange County rose for the seventh straight month in July, hitting 6.7% of all loans outstanding. That’s the highest percentage since at least January 2007, when it was a mere 0.7%, and is up slightly from 6.6% in June, reports First American CoreLogic.

The percentage of mortgages here [...]

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‘Shadow’ Supply Of Foreclosures May Delay Housing’s Recovery

by Moe Bedard

“Everybody is stalled 100%; the lenders aren’t doing anything” with modifications, said Moe Bedard, president of Loan Safe Solutions, a Corona, Calif.-based firm that does mortgage auditing for attorneys. Some shadow inventory may not be listed publicly because some lenders sell foreclosures via in-house divisions, says Bedard. Or, lenders may be selling the defaulted paper to investors. But these gray market sales can’t account for all unlisted foreclosed properties.

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