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Freddie could take more than a decade to unload REO inventory

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Newkirk Realty | Fannie Mae and Freddie Mac own more than. – Combined, Fannie Mae and Freddie Mac still hold more than 180,000 homes repossessed through foreclosure, known as REO, despite reductions in the third quarter. Fannie Mae sold more than 58,000 REO in the third quarter, roughly 13,000 more properties than it acquired, according to its financial filing released Tuesday.

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Desperate to sell houses, investors are offering cash – Inventories of unsold single-family homes are near a 17-year high as demand from speculators wanes and mortgage rates have risen more than a percentage point from a four-decade low in 2003. “The.

Troubled mortgage giant Freddie Mac is making a new effort to unload its bloated inventory of foreclosed homes paying home buyers closing costs. The government backed lender, which has been bailed out by tax payers at a cost of more than $148-billion with its sister lender Fannie Mae is making the offer to home buyers for most of the summer.

Freddie Mac sold fewer homes in the third quarter then they have earlier in the year. Freddie Mac being one half of the Lending Powerhouse Team, sold more than 25,300 repossessed homes in the third quarter, down 13.5% from the nearly 30,000 in the previous three months.

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Freddie Mac has asked the government to bail it out again with an additional $6 billion in aid, so that it can offset third quarter losses. The request is the largest of its kind since April 2010.

Here is a graph of Fannie and Freddie Real Estate Owned (REO). REO inventory decreased in Q4 for both Fannie and Freddie, and combined inventory is down 30% year-over-year. There are still a number of properties in the foreclosure process with long time lines in judicial foreclosure states – but this is close to normal levels of REOs.

Freddie Mac vendors sold fewer REO properties in the third quarter than they did earlier in the year as nonperforming loans continue to climb.. More than 25,300 repossessed homes held by Freddie Mac sold in the third quarter, down 13.5% from the nearly 30,000 in the previous three months.

If so, and if house inventory data reported by the NAR are correct, it will take much longer to unload. can’t have missed two consecutive payments on any consumer debt within two years..

New home inventory. altogether if he can unload all his assets without taking a huge financial hit. He lost money on the business last year. The whole thing makes him pretty sad. "It used to be,

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