Fannie Mae Announces New Buyer and Seller Incentives for REOs

With the foreclosure crisis still raging, the nation’s largest mortgage financier has amassed a hefty portfolio of repossessed homes. Fannie Mae took back 68,838 foreclosed properties in the second quarter alone. In the first quarter of this year, the company added 61,929 new REOs to its inventory.

According to Fannie Mae’s latest quarterly report, as of June 30, 2010, the company was holding 129,310 single-family REO properties. In an effort to increase sales of its foreclosed inventory and get these properties – and the costs associated with carrying them – off its books, Fannie Mae is offering additional incentives to buyers and sellers of its REO homes.

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