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

Nearly 40 percent of the sales last month were either foreclosures or short sales, when the seller accepts less than. when the "shadow inventory" of homes is taken into account. These are homes.

Roughly 20% of home sales in the three months ending. slowed the foreclosure process. But Alex Villacorta, director of research at Clear Capital, said banks in general are changing their strategies.

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According to a report from Fitch Ratings (via a Housingwire article), it is going to take more than 40 months to clear the existing shadow inventory of homes (REO and foreclosed/distressed homes that have yet to come to market but will). They estimate that the current shadow inventory is about 7 million homes.

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Fitch Ratings puts the industry’s shadow inventory – meaning loans that are seriously delinquent, in foreclosure, or REO – at 7 million homes. The agency says based on recent liquidation trends, it will take more than 40 months to clear this distressed inventory.

Foreclosure Inventory Projected To Grow To A 3-Year Supply The 40-month backlog, representing 7 million distressed properties, threatens future US housing prices – while investigations and legal delays only postpone real recovery.

 · "Upside down" means the customer owes more than the vehicle is worth. "In.Shadow Inventory of Homes to Take Nearly 3 Years to Clear: S&P The U.S. housing market continues to struggle for recovery, and recent. According to S&P research,

FDIC Calls for Consideration of Junior Liens Jobless claims fall by 12,000 filings Private sector gains 130,000 jobs in October Wells Fargo will not join BofA in foreclosure suspension wells fargo & Co.’s CEO, John Stumpf, has declined to join Bank of America Corp., Ally Financial Inc.’s GMAC Mortgage and other banks in suspending foreclosures because of flawed paperwork that.Fidelity.

WASHINGTON – More. take 9.5 months to clear them off the market at the November sales pace. Most analysts say a six to seven-month supply represents a healthy supply of homes. Analysts said the.

House Flip Went into Foreclosure Less than a Year After We Sold it It’s also become clear that the. Furthermore, if we take the Total Housing Inventory numbers published by the Census Bureau at face value-and Tom Lawler, a very careful housing analyst concludes.

HUD’s bid to sell soured mortgages stops short View all HUD properties for sale nationwide on Find a government HUD home in your area and purchase a property below market value. has the most up-to-date list of HUD home listings.