BiggerPockets

One Foreclosed Home Every 90 Seconds

Tuesday, June 22

For the first quarter of 2010 FNMA and Freddie Mac took possession of a foreclosed home every 90 seconds and held inventory of foreclosed properties of 163,828 homes.  Costs to taxpayers so far totals $146 Billion and is estimated by the Office of Budget Management to reach as high as $389 Billion.

Here is a link to the full article:  http://tinyurl.com/23ps25j

With this much inventory and foreclosure numbers continuing to climb it is difficult to understand the reluctance of both FNMA and Freddie Mac to sell to investors.  Being more reasonable with short sale offers would seem to make sense to all parties involved and to the housing market.  Placing restrictions on resell time frames simply adds cost to the investor which is likely to be passed on to the ultimate buyer.

Comments

1. 

   Anson Young Reply
   over 1 year ago

   From what I hear from our Fannie asset manager, there are a TON in the pipe, but nobody knows when/where/how they will be released on us....

2. 

   James Ward Reply
   over 1 year ago

   Ted,

   You really need to call all your contacts in the Gov. and get them on the ball!

   It is really amazing to reads stats like that.

3. 

   Kevin Kaczmarek Reply
   over 1 year ago

   Amazing!!

   Anson, that is what we hear, here as well. That there is a TON in the pipe. That seems to be the standard answer with a lot of these asset managers. LOL!

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