Ka-BOOM! Amherst: 10 million MORE mortgages set to default!!

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Ka-BOOM! Amherst: 10 million MORE mortgages set to default!!

Ka-BOOM! Amherst: 10 million MORE mortgages set to default!!

They saw this coming and they’ve been warned. If a foreclosure moratorium isn’t in the horizon, prepare to see home values sink to all time lows.

The TOO Big TOO Fail… will FAIL all on their own.

 

HW

Roughly 10.4 million mortgages, or one in five outstanding home loans in the U.S., will likely default if Congress refuses to implement new policy changes to prevent and sell more foreclosures, according to analyst Laurie Goodman from Amherst Securities Group.

At the end of the second quarter, more than 2.7 million long-delinquent loans, others in foreclosure and REO properties sat in the shadow inventory, more than double what it was in the first quarter of 2010 (Click to expand the chart below). With the market averaging roughly 90,000 loan liquidations per month, it would take 32 months, nearly three years, to move through the overhang.

And that number is contingent on no other loans going into default.

[HOUSING WIRE]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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  1. […] Think the market is getting better? It’s a total fabrication. And wait, what about the rest of the 12 Million that are underwater…or the possible 10 million MORE mortgages set to default!! […]


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