The banks have 7 million homes they have not released for sale. This is called "shadow" inventory. Today, there are 1 out of 4 homes that are worth less than their outstanding mortgage. We will see bank owned homes for sale trickle into the real estate market in the next few months. The banks who received TARP funds must go through the hoops of qualifying a homeowner for a loan modification before they can foreclose. http://SacramentoRealEstateVoice.com
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