Q3 Update: Delinquencies, Foreclosures and REO

REO: lender Real Estate Owned

We will NOT see a surge in foreclosures that would significantly impact house prices (as happened following the housing bubble) for two key reasons: 1) mortgage lending has been solid, and 2) most homeowners have substantial equity in their homes.

Last week, CoreLogic reported on homeowner equity: CoreLogic: US Homeowners See Equity Gains Drop by More Th…