Many Foreclosures in the Wings

Housingwire reports that RealtyTrac Senior Vice President Rick Sharga conveyed that major banks currently hold roughly 1 million homes repossessed through foreclosure, but only 30 percent have made it onto the market. The report also indicates foreclosure filings reached a new high in 2010 and should climb even higher this year, possibly surpassing four million filings – not counting the more than five million delinquent loans that have yet to enter the initial stages of the foreclosure process.

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