Why Are Banks Withholding Highend Repossessions Over $300,000 From the Market?

With the expiration of the first-time buyer tax credit on April 30, there are now two main props keeping the housing market afloat. One is the growing percentage of home sales financed by Federal Housing Administration (FHA) loan guarantees. The other is the refusal of banks to put on the market foreclosed homes over $300,000.

In this article, we will take a look at the second factor. A future report will examine the role of the FHA in keeping the market from collapsing.

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