Back in December, 2008, Freddie Mac and Fannie Mae and huge monster mega banks called for a moritorium on foreclosures to help kick start the Oboma housing recovery. Opps, it didn’t work, and now the house of cards are falling down.  Good article on what is shaping up in the coming months regarding the housing market, also revealed is what is known as “shadow inventory” (approximately 600,000 homes that have been repossesed but not listed for sale).

http://ibankcoin.com/cronkite/?p=4806&ref=patrick.net