675,000 homes in foreclosure have made no payment in over two years. The never ending pipeline of troubled real estate.

Dr. Housing Bubble reports:

There will be no sustainable housing recovery until the shadow inventory is cleared out. As of April with the latest data close to 6.4 million loans are delinquent or in foreclosure. This is a massive number of homes. What is downright disturbing of the 2.2 million homes in foreclosure you have 675,000 homes (31 percent of the pool) that have not made a payment in over two years.

Great moments in housing.