House Prices: Foreclosure Crisis Threatens


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.

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