Mortgage Deal Means More Foreclosures

While the recent settlement with the largest banks over robo-signing will help many who are delinquent on their mortgages, an increase in the number of foreclosures is just around the corner. According to this CNN Money article, the banks were holding off on foreclosing on those mortgages that are not salvageable until this deal was completed. This increase in foreclosures will likely put additional downward pressure on home prices during 2012, however this is necessary in order for the market to stabilize. Read article

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