Monday, November 1, 2010
Disastrous number of foreclosures that may occur over the coming years.
Nearly a million homes are expected to be repossessed this year, and analysts seem to be competing to issue the most dire forecast for future foreclosure numbers. Morgan Stanley reported that about 3.1 million borrowers are seriously delinquent with many expected to lose their homes. Zandi said more than 4 million are in trouble with half of those expected to go to foreclosure. And Laurie Goodman, of Amherst Securities, estimates the number of homes in danger of foreclosure at a whopping 11 million.