It Isn't Over Til the Large Thyroid Challenged Non Male Person Sings
Foreclosures starts are down consideribly from the peak in 2008 but experts are expecting 1.2 million new foreclosures and 650,000 loan modifications that will re-default in 2013. Source LPS and JP Morgan Chase 12/17/2012
Given the horrible loans in FHA products and pipeline this should come as no surprise. The numbers then include another 530,000 new mods, 1 million foreclosure sales, and 700,000 short sales.
By the end of 2013 we should see the shadow inventory decline by 380,000 leaving us still with about 4 million properties. So much for the non-existent shadow inventory.
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