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Foreclosure Defense Florida

IT’S OFFICIAL- THE US GOVT. IS BIGGEST OWNER OF RESIDENTIAL PROPERTY

Foreclosed-homesThe U.S. government, which has become the nation’s biggest owner of residential properties, is looking for ways to reduce and manage its huge inventory without swamping the real estate market or exposing federal agencies to enormous losses.

Government-run Fannie Mae, Freddie Mac and the Federal Housing Administration now own about a third of the country’s nearly 800,000 foreclosed properties. With that inventory predicted to grow, they are looking for new ways to cope.

In a joint public appeal this month, the agencies invited the public to send in suggestions for managing the inventory, particularly ideas for turning foreclosed homes into rentals.

BLOOMBERG ARTICLE