House Prices: Foreclosure Crisis Threatens

By Alec Foege   | Posted Oct 28th 2010 11:41AM
2 Comments
Updated Oct 28th 2010 1:10PM

Already-low home prices are facing a new threat -- the possibility that the foreclosure crisis will push housing values even lower. The murkiness surrounding paperwork in thousands of foreclosure cases likely will slow the process of reselling foreclosed homes, the Obama administration announced Wednesday.

The areas most in danger of further home-price depreciation are those that have the most foreclosures -- Las Vegas, Phoenix and parts of California and Florida. The warning from the Treasury Department followed the first Congressional hearing regarding the robo-signing foreclosure mess.

For more on home prices, mortgages and related topics see these AOL Real Estate guides:
More on AOL Real Estate:
Find the value of your home.
Find homes for sale in your area.
Find foreclosures in your area.
Get property tax help from our experts.
Filed under: News, Economy, Lifestyle

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