It has been reported that as of December 31, 2010 FHA held over 60,000 properties repossessed through foreclosures. This REO portfolio has been valued at approximately $9.1 Billion. When combined with the Fannie Mae and Freddie Mac, the our government holds approximately 360,000 REO properties. When we add the REO portfolios of the rest of private lenders, the amount of properties in REO stage increase to over 1.3 million properties according to data provided by CoreLogic. However, according to Capital Economics, the amount is more like 5.3 million properties.
For the recovery of our economy is it imperative the reselling of these properties. This is an area of the industry that you should consider learning if you are not already involved in it. For those interested in learning more about how to profit from this sector of the market and provide a valuable service to many, please visit this site where you will have access to the tools you need for your success.
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