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Mortgage Delinquencies Show Signs Of Rough Months AheadBy Realtor Friend on May 12, 2008 | In Uncategorized, Foreclosures, Buying, Selling, Market Conditions | Send feedback » NEW YORK (CNNMoney.com) -- Mortgage delinquencies will continue to rise over the next six to 12 months as home prices decline and economic conditions remain difficult, according to one forecast released Monday. Rough months ahead for mortgage delinquencies translates into a longer loom in the Foreclosure market. As we continue to feel the crunch of Mortgage Lending Guidelines, more people are going into Foreclosure and less people are able to qualify for home loans. Reports have shown our National Home Inventory has crept up in recent months. We were hoping for an inventory decline to help market corrections. Less inventory usually means more Buyers are competing for less homes in a given market. Average homeowners cannot compete with Foreclosure and Shortsale pricing. The backlash from the market conditions are battering the refinance sector. Las Vegas is seeing an inventory decline in entry level housing, more specifically in areas hardest hit by Foreclosures.
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