But what does an NOD have to do with “shadow inventory”? Shadow inventory is REO’s, properties that the banks have already foreclosed on and now own, yet have not placed on the market. NODs are not shadow inventory. That’s just a property that the owner is behind on the payments. That doesn’t mean they have to list it for sale. It might never be for sale. They could get a loan mod, hit the lotto and pay it off, whatever. NOD’s have nothing to do with the so called shadow inventory.
