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

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Distressed-home sales were 35 percent of the existing-home-sales market, according to the National Association of Realtors, up from 29 percent in September ’09. Further, Fitch Ratings this past November estimated that it would take more than 40 months for the shadow inventory of delinquent loans, foreclosures and bank-owned properties to clear.

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Foreclosure shadow inventory will take more than 40 months to clear: Fitch Housing Wire While those loans represent 25% of the entire mortgage market, trends and issues can be extrapolated to the rest, analysts said..

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Fitch says for judicial foreclosure states, such as Florida, it is expected to take longer than the national average of 40 months to resolve the distressed loans, while for nonjudicial foreclosure.

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Small agency loans, which are less than $200,000 represent 75% of the agency shadow inventory by loan count, and close to 1/3 of total shadow inventory, agency plus non-agency, explained the report. "If the program does not take off, growing investor interest will clear the inventory over time, but that will take a good deal longer," analysts.

3 Horrifying Cases Of Ghosts And Demons New figures released by Fitch Ratings put the industry’s shadow inventory at 7 million homes. The agency defines the shadow supply of properties as loans that are delinquent, in foreclosure, or real-estate-owned ( REO ) by the servicer, and Fitch says based on recent liquidation trends, it will take more than 40 months to clear this existing distressed inventory.

Certainly, the prospect of buying another $40 billion a month of mortgage-backed securities. Third, there is still a significant shadow inventory of unsold homes: properties that are in foreclosure.

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WASHINGTON – More. It would take 7.6 months to clear them off the market at the January sales pace. Most analysts say a six-month supply represents a healthy supply of homes. Analysts said the.

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.

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