Page 4 - Shadow Inventory News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Four things we're going to do straight from the white house. number one, no more foreclosures in the united states of america unless there's mandatory mediation, meaningful mediation between the borrower and the lender. a lot of these could be worked out. number two, people want to stay in their house. number two, eliminate the due on sale clause. that is a federal mandate that was passed under st. jermaine in 1982, it could be wiped out a stroke of a pen. number three, i want to eliminate tax on the subsequent resale of bank-owned homes. it would solve this huge shadow inventory of houses tha...

Government. a mortgage today would be at a 9% interest rate. i want to get the government out of home. they are too big. it has to be done ten years. do it overnight and youville a disaster on your hands. >> are you reading the same statistics i am? i find out all the home builder stocks are coming back because inventories are running down. >> because people can get mortgages because -- >> 6.6 million homes right now in shadow inventory. that has to come on. >> who has got and home loan in the last year? has anybody in the whole audience? >> christian, last word and thank you for being here, c...

Of many homes to foreclosure, and when that happens. the effects could be felt nationwide. our jenna lee report prg the fox business network. this is disturbing. jenna: it is, harris, especially since we talk about home construction, we talk about sales, for example, and we have seen some improvement over the last several months in those areas we normally look at, but a term we should all be familiar with is shadow inventory. it's the homes that are still on the market, they're still, i should say, in some state of foreclosure, they haven't been foreclosed upon, and they're waiting to be forec...

But the effects of the shadow inventory on the entire market are going to be felt even if you're outside of those states because what we're hearing, the early estimates of the shadow inventory is it could be five million homes, it could be eight million homes, and standard and poors says really that could take three years, and that's a conservative estimate to actually work those homes off the market. now, one consulting firm, john burns real estate, says there's two different scenarios here. if be the economy continues to improve, then you see investors step p in, scoop up this lower-priced h...

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