April 08, 2009 at 12:56 PM EDT
Banks Purposely Holding Off the Market a Vast Inventory of Foreclosed Homes
Lenders nationwide are sitting on hundreds of thousands of foreclosed homes that they have not resold or listed for sale, according to numerous data source. “We believe there are in the neighborhood of 600,000 properties nationwide that banks have repossessed but not put on the market,” said Rick Sharga, vice president of RealtyTrac, which compiles nationwide [...]
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