Worst to Come for Foreclosures, says Zandi


Just when you thought it was safe to open a newspaper, there's some bad news: There could be an additional 4.8 million foreclosure sales between 2009 and 2011, said Mark Zandi, chief economist at Moody's Economy.com in West Chester, Pennsylvania in an interview with Reuters.

That's almost twice the 2.7 million foreclosure sales that happened between 2006 at 2008, Zandi says. Those earlier foreclosures battered our economy, almost destroyed our financial system, and cost many of us our jobs.

The argument for another foreclosure spike is straightforward...