Housing Market Worsens by Pete the Banker

March 26, 2010

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Even though the President is on the road announcing his bail out for more people who bought homes they couldn’t afford.  There’s even worse news. Those people? They’re not alone.

Declining Mortgage Performance in Q409 Means More Foreclosures Ahead: Feds
In Q409, the amount of mortgages falling behind by 90 or more days increased 21.1%, resulting in more foreclosures ahead, according to a study from the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS).

And, this story reports, the inventory of houses could take another three years to clear.

Tell ’em where you saw it. Http://www.victoriataft.com