Another 11M mortgages are likely to default, Amherst Securities' Laurie Goodman predicts, as...

|By:, SA News Editor
Another 11M mortgages are likely to default, Amherst Securities' Laurie Goodman predicts, as banks eventually are forced to liquidate tons of bad loans. For now, banks are refraining from such liquidations in the hope that bad loans turn good, thus the shadow inventory keeps rising - ominously.