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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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Shadow Inventory


4.1 million Homeowners are either 90 days late or are going through the foreclosure process.  Research has been conducted by Guhan Venkatu, an economist from the Federal Reserve Bank of Cleveland, and it has been determined that a majority of these homeowners are being placed in a category  called "Shadow Inventory." Shadow inventory is the lists of homes that are going to be placed on the market to be sold very shortly. Examples of a shadow inventory are homes that are owned by the bank and have not yet been placed on the market for sale, either by auction or by real estate agent. Due to the current housing crisis we are going to be experiencing problems until 2013 due to the excessive amounts of REO's and "Shadow Inventory" that has not yet hit the market.