Banks Are Selling Off REO's But There Are More On The Way

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Calculated Risk summarizes a lot of data on mortgage delinquencies. Real estate owned by banks (REO's) is declining as the banks sell off their inventory of foreclosures. On the other hand, the quantity of mortgages in which payments have not been made for 90 days is rising. Many of these will eventually be foreclosed and refill the REO bucket.