Sharga: Several more years with nearly 1M foreclosures per year

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bank of america: Sharga: Several more years with nearly 1M foreclosures per year – 11/01/11 07:39 AM The housing market faces several more years with 800,000 to 1 million new foreclosed properties per year, according to Rick Sharga, an executive vice president with Carrington Mortgage Services.

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Housing Wire – "Sharga: Several more years with nearly 1M foreclosures per year" (11-1-11) "The housing market faces several more years with 800,000 to 1 million new foreclosed properties per year, according to Rick Sharga, an executive vice president with Carrington Mortgage Services."

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Years of foreclosures ahead. The housing market faces several more years with 800,000 to 1 million new foreclosed properties per year, according to Rick Sharga, an executive vice president with Carrington Mortgage Services. Sharga recently left RealtyTrac, where he helped build a network that tracked foreclosure filings across the country.

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Fannie, Freddie set new short sale timelines Beginning June 15, real estate agents working with distressed homeowners whose loans are backed by Fannie Mae and Freddie Mac should expect to receive a decision on a short sale offer within 30-60 days. The GSEs issued new guidelines Tuesday that fall under the servicing alignment initiative rolled out last fall and aim to bring greater transparency to the short sale process and expedite.