One Million Nearing Eviction

Thursday, June 25, 2009 4:55 PM

By: Julie Crawshaw

Close to a million homeowners are seriously behind paying their mortgages and awaiting eviction.

Experts say the backlog of seriously delinquent mortgages conceals the full extent of the foreclosure crisis and threatens to depress home prices even further.

For lenders, this could mean even more losses tied to the mortgage meltdown, as foreclosures continue in a market in which an oversupply of homes continues to push prices down.

"Lenders are having an immensely difficult time handling the capacity,â€