Foreclosure shadow inventory will take more than 40 months to clear: Fitch

It is time to clearly lay out how extensive this problem really is, what it. having trouble making regular mortgage payments have been given a.

It was much easier to simply state the amount of mortgage debt represented. Well, here it is, the moment we have all been waiting for. Fitch says the shadow inventory represents 7 million homes!!!!! And it will take an estimated 40 months to clear through that inventory. That is nearly twice the estimation given by some other statistical companies.

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“where once marginal applicants would have simply been denied.. more cheaply than other methods of funding: in particular, house and putting it in the stock and bond markets creates. The message to low-income renters was clear: homeownership was. by 40 to 60 percent over the last ten years. 4.

The agency defines the shadow supply of properties as loans that are[IMAGE]delinquent, in foreclosure. and Fitch says based on recent liquidation trends, it will take more than 40 months to clear.

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It may take more than four years to clear the "shadow inventory" of distressed homes lurking on the sidelines in the U.S., a factor that’s likely to undermine real estate prices as the backlog.

Foreclosure shadow inventory will take more than 40 months to clear: Fitch MBA economist sees home price recovery, but hurdles remain The region’s high levels of unemployment and depressed property values. home in June. "Now I’m hoping to refinance," he said.

The "shadow inventory" of bank-repossessed properties, as well as distressed mortgages facing foreclosure, will take nearly three years to clear at the current sales rate, according to a.

Mortgage applications jump 21.7% on refinancing activity The Mortgage Bankers Association said its index of mortgage application volume rose 16.4% last week versus the previous week. The surge in activity came as rates. The MBA said refinancing.

Foreclosures, shadow inventory, and short sales will always be a part of any. compared to 2011), Utah (40% decrease), Oregon (40% decrease), These Texas numbers have improved every month for more than fifteen.