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Real Estate Briefing - Categorized | Finance, Market Moves, Mortgage more

Why the foreclosure crisis is getting worse

Posted on 23 October 2012

Although the housing market is showing signs of recovery, other indicators show the foreclosure crisis is getting worse. Austan Goolsbee, the former chairman of the Council of Economic Advisers, said, “I think there’s a lot wrong in the housing market. If Fannie and Freddie would start enabling people to rent out the vacant homes, that would also help.”
The mortgage loans which are currently under the foreclosure process, is amounting to almost $45 billion (that is mainly in terms with negative equity)……………………………………….Full Article: Source


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