Banks Expected To Release More Foreclosed Property

SAN JOSE, (KCBS) --- Banks have been hanging on to a mountain of foreclosed properties, but Intero Real Estate founder Gino Blefari expects that to change in 2011.

"I think it's just time to move it through the cycle," he said. "I think they've got all their processes in place."

KCBS' Mike Colgan Reports:

Mortgage rates meanwhile are expected to stabilize, according to Jeff Jaye at First Cal Mortgage.

"We've seen a pretty large spike that happened pretty quickly," he said. "Now we think we're going to see managed slow, methodical growth."

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