Shadow inventory of homes for sale

There is a rapidly growing shadow inventory of properties where borrowers are delinquent but foreclosure has not been completed according to Standard and Poor's.  A recent report also suggests a period of many months to resolve the shadow inventory problem.  The report states "If no additional loans default and only the current inventory of non performing and REO loans eventually must be liquidated, it will take 29 months to complete. This estimate of 29 months does not consider loans that have yet to default or, more significantly, those that have recently cured."

Read the full report at
http://www.standardandpoors.com/ratings/articles/en/us/?assetID=1245206147429

For information about Ormond Beach and Ormond by the Sea Florida homes and condos for sale and for rent call 386-441-8245 or visit the Ocean view Realty Group web site at http://www.ovrealty.com/ where you can also search the Daytona Beach area multiple listing service (MLS) anonymously