Home Foreclosures Haven’t Hit Bottom Yet: 6.7 Million Borrowers Delinquent or In Foreclosure
It seems that the same shoddy practices that helped the nation to get into the home foreclosure crisis is the same one that’s now keeping banks from dealing efficiently and effectively with foreclosures.
Home Foreclosure Crisis: We Haven’t Hit Bottom Yet
According to the Los Angeles Times Article, Figuring Out Foreclosures:
And with an estimated 6.7 million borrowers delinquent or in foreclosure, the inventory of houses for sale is likely to grow.
Many homeowners are fighting back though, arguing that they’re being illegally foreclosed on. Many are citing lender “procedural errors.
This is stalling the real estate market’s recovery, which is why the bottom (which many experts thought we’d hit) may still not be in sight.
P.S.: Start a Business Cleaning Foreclosed Properties. While the foreclosure crisis has been a nightmare for many, it has presented a perfect small business opportunity for others. Learn how to start a foreclosure clean up business. Read how one foreclosure cleaning business owner rakes in $40,000/wk (not a typo).
P.P.S.: Like this post? Follow Foreclosure Business News on Twitter.
Copyright © 2010 Yuwanda Black for Foreclosure Business News. Article may not be reprinted or reproduced in any manner without the express, written consent of the author.