BUSINESS
07/25/2009 05:12 am ET Updated May 25, 2011

Homeowners Left In Limbo As Banks Delay Foreclosure

A growing number of American homeowners are falling into financial limbo: They're badly behind on payments, but their banks have not yet foreclosed.

The backlog of seriously delinquent mortgages, which so far affects about 1 million borrowers, is a shadow over hopes for a rebound in the nation's housing markets.

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