Government Reduces Foreclosure Inventory

In 2011, the government cut the foreclosure inventory by half. “From the end of 2010 to 2011, Freddie Mac, Fannie Mae, and the Department of Housing and Urban Development saw a 49 percent reduction in the number of REO properties it owns. The three government enterprises held about 150,700 properties as of Dec. 31, 2011, compared to 296,000 at the end of 2010.”

 

Who Decreased By How Much?

HUD: Reduced foreclosures by 32,000, a 47% decrease.

FANNIE MAE: Decreased by 118,000, 27% of its total inventory.

FREDDIE MAC: Dropped 16% of REO inventory, 60,500 compared to 72,000 in the prior year.


Read More

NAR: REO Rental Programs Largely Unnecessary

Determining the Speed of Foreclosures

Source: “Government-held REO Halved During Robo-Signing Freeze,” HousingWire (March 9, 2012)

 

Hart Real Estate Solutions

www.hart.realtor

406.585.0000

Hart Real Estate Solutions Bozeman Montana


  

 

Comment balloon 0 commentsHart Real Estate Solutions • March 16 2012 07:22AM

Comments

Participate