The inventory of delinquent and foreclosed homes has grown to over 2 million and could be added to an already saturated housing market over the next year. This "shadow inventory" is being managed by mortgage lenders to avoid overwhelming their foreclosure processing capabilities. Banks sometimes find it better to slow down the foreclosure process.
We've found this in Tallahassee where some owners have not made mortgage payments in 4 months and have not received a foreclosure notice.
But, if you and your Tallahassee home are in this situation, be careful. The bank will not leave you alone forever. Call us - we'll help you be prepared. Don't let the bank get the upper hand because you didn't know what to do. Visit our special tallahassee website:
www.NoTallahasseeForeclosure.info
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