REUTERS TV DECODER: Plenty of signs point to a rebound in the housing market. But dig deeper into the numbers and you’ll find a figure that causes serious concern for some observers - shadow inventory.
I constantly get the saddest e-mails from people saying, ‘I’ve exhausted all my life savings, my retirement is gone, and now I have to default,’ But if they had seen the writing on the wall a couple of years earlier, stopped paying the mortgage and stayed in the home throughout the whole process, they would be in a much better financial position.
Jon Maddux, CEO of a foreclosure agency that helps clients with strategic default (and charges a fee for it).
Scot Paltrow for Reuters - Four years after the banking system nearly collapsed from reckless mortgage lending, federal prosecutors have stayed on the sidelines, even as judges around the country are pointing fingers at possible wrongdoing