Will REOs Hamper a Housing Recovery?

http:// http://www.realtor.org/rmodaily.nsf/pages/News2011052301?OpenDocument&WT.cg_n=RMO&WT.cg_s=RSSDaily

The nation’s largest banks and mortgage lenders currently own more than 872,000 homes — properties in which they repossessed from foreclosure, according to RealtyTrac. That is nearly twice the amount they repossessed in 2007, when the financial crisis began. 

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