Fannie Mae and Freddie Mac Own Almost 200000 Foreclosures

Posted on August 17, 2011

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At a time when internal documents are revealing that Fannie Mae directly prompted banks to foreclose rather than give HAMP modifications, the number of foreclosed homes owned by Fannie Mae and Freddie Mac is reportedly at 200,000.

In the next year or two, all of those home will be put on the market for sale or as rentals. Fannie Mae and Freddie Mac are seeking proposals right now for ideas on how to deal with this excess housing inventory.

What this also means is that housing has not hit its lowest mark yet. And the rental prices, overall, for housing will also go down.

See article here.

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