Fannie Mae and Freddie Mac Resume Foreclosure Sales
Posted by Benjamin Dona on Monday, November 29th, 2010 at 8:48pm.
Fannie Mae and Freddie Mac have notified brokers representing the GSE's foreclosure inventory to once again begin marketing their properties for sale.
This is really good news for the Florida real estate market as both entities together hold or guarantee a substantial amount of homes - 31 million homes nationwide - of which, 12% for Fannie Mae and 17% for Freddie Mac are currently with delinquent borrowers in Florida.
The embargo on selling these properties no doubt led to the overall decrease in total existing home sales in September and October. Getting them back on the market quickly should help as the sooner we can clear them from the current inventory, the sooner the Florida market can begin to stabalize again.
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