St Louis Mortgage Refinancing and Home Loan Mortgage: Shadow Inventory Pushes Foreclosures

St Louis Mortgage and Real Estate News –

St Louis Finance and Mortgage Broker News: Shadow Inventory Will Push Foreclosures
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate

 Two reports from separate credit rating agencies are drawing the same conclusion and that is foreclosures will reach new heights in 2011, even after setting records in 2010 according to St Louis finance experts.

"DBRS expects foreclosure filings and completed foreclosures to reach record levels in 2011 as alternatives such as modifications for seriously delinquent borrowers

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St Louis Mortgage Loan and Refinancing Loan: Market Bears 30 Percent Of Foreclosures

St Louis Mortgage and Real Estate News –

St Louis Finance and Principal Loan Reduction News: Only 30 Percent Of Foreclosures On The Housing Market
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate

RealtyTrac Senior Vice President Rick Sharga said major banks currently hold roughly 1 million REO, or homes repossessed through foreclosure, but only 30 percent have actually made it onto the market.

According to its year-end report, foreclosure filings reached a new high in 2010 and should climb even higher this year, possibly surpassing 4 million filings according to several St Louis mortgage brokers.

And that's not counting the more than 5 million delinquent loans that have yet to enter the

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