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Mortgage Delinquencies Decline

The Wall Street Journal is reporting that the number of homeowners that are delinquent on their mortgages has declined. This is a sign of an improving economy. However, the number of foreclosures will likely increase due to the fact that the large number of homes presently listed as foreclosures on the market will make it difficult for those struggling to pay their mortgage to sell their property as price pressures will continue to move downward. The sooner the foreclosed inventory can be sold, the quicker pricing will stabilize.

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