12-30-2008 02:43 PM
12-30-2008 05:46 PM - edited 12-30-2008 05:55 PM
One of the reasons for this is that Fannie Mae & Freddie Mac put foreclosures on hold between 11/26/2008 till 1/09/2009. They did this to buy some time to devise some loan modification plans. These two entities account for and hold tons of properties. I'm not so sure new properties will be flowing in like wine after this period, but foreclosures and new listings should pick up a bit. These loan modifications are futile anyway, most are late on their payments after and all it's doing is prolonging this mess. Just some insight.
01-08-2009 03:08 PM
just clicked on NEWS on the same link and got this:
Fannie Mae Extends Foreclosure Sale and Eviction Suspension
WASHINGTON, DC -- Fannie Mae (FNM/NYSE) today announced that it would extend the suspension of foreclosure sales and evictions from single-family properties through January 31, 2009.
01-08-2009 04:13 PM