A recent video report on the CDPE network interviewing RealtyTrac executive Rick Sharga identified several key factors driving the current foreclosure and distressed property market:

Since 2006, the defaults greater than 90 days have occurred faster than the rate that foreclosures have been initiated, the result being that the number of foreclosures in the pipeline has been building for a long time. It is estimated that more than 7 million properties are in default or foreclosure.

State’s attorneys general, the state courts and federal regulators have pushed to delay foreclosures until documentation problems can be resolved. The number of completed foreclosures has fallen as a result of documentation problems, but this is not a sign that the backlog is clearing. read more »