The Mark Spain Team

Atlanta Real Estate
Foreclosed Inventories Down by 17%
Banks held about 476,000 homes that they repossessed from delinquent mortgage borrowers as of the end of July, according to Barclays Capital. That tally represents a 17 percent contraction from 574,000 REOs on the books just 10 months earlier, in September of 2010. The average number of months a loan has spent in foreclosure has climbed from around 10 months just before October of last year to more than 12 months today.