All civilization has from time to time become a thin crust over a volcano of revolution.

- Havelock Ellis

You Own the REOs

With the federal government's hand where it is not supposed to be, is it a surprise to anyone that nearly half of foreclosures are held by the federal government?

Nevertheless, the holders of REO properties (foreclosed properties returned to the bank) are going to have to do something with them sooner or later. And worse yet, almost half of those REOs are held by the government:

Based on Radar Logicís analysis, the federal governmentís REO inventory ó including homes owned by Fannie Mae, Freddie Mac, HUD, and the Department of Veterans Affairs (VA) ó has increased steadily for over 24 months and now accounts for approximately 46 percent of the nationís total REO supply.
[Read]

More costs to you so the government can have control where it does not belong, and of course another fine example of the quality of outcome you can expect from the government.

posted at 10:37:03 on 07/05/10 by clearpolitics - Category: Economics - [Permalink]

Previous | Next

Comments

No comments yet

Add Comments

This item is closed, it's not possible to add new comments to it or to vote on it

Navigation

Please visit our sponsors: Moneyspot.com

Please visit our sponsors: Spreadware.com

The Gross National Debt