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Banks have not been very efficient when it comes to foreclosing on delinquent mortgages and moving the distressed properties to market. There has been a fair amount of press in the past few months about the “shadow inventory” of distressed properties that banks own but have not had the means to get on the homes on the market. The shadow inventory could delay by years the end of the market correction in real estate that we are currently in the middle of.
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Vulture Investors Move Distressed Homes to Market Faster