Good News Bad News From RISMedia.com
Good News is that Foreclosures are selling. Bad news is more foreclosures are on the way
According to its most recent quarterly report, Fannie Mae acquired 98,428 homes through foreclosure during the first nine months of last year and sold 89,691 REO properties during the same period. However, at the end of September 2009, Fannie Mae still had 72,275 REO properties on its books, marking a 7% increase year-over-year.
Furthermore, Fannie Mae’s monthly summary for November 2009 showed notable growth in seriously delinquent single-family home loans held or guaranteed by the company. Up from 1.89% in November 2008, loans three or more months behind in payments or in the foreclosure process soared to 4.98% in November 2009.
Read more: http://rismedia.com/2010-01-10/fannie-mae-adopts-new-reo-policy/#ixzz0cKZCeNRF
So what does that mean,
That means without growth in jobs, there will be more foreclosures coming on the market. So please call your local Realtor if you are behind on payments. If you do not have an agent, call me I will help you find someone that can help.
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