Foreclosed Properties being lost in the shuffle

Are Foreclosed Properties being lost in the shuffle?  It appears to be happening here in the Clarksville TN Foreclosure Market so I have a strong feeling that it is happening elsewhere around the country. 

I reported a while back about a lovely foreclosed property in Clarksville TN that our clients had made an offer on and received a 'verbal' acceptance from Freddie Mac only to have the offer rejected two days later.  The Freddie Mac Sales Manager emailed and said that the property was being sold back to the primary lender because the lender could not afford to take a loss (20K projected loss based upon sales price, closing and commission projections).  Being the military minded person that I am, this upset me just a bit - possibly because I felt we had failed our clients, but mainly because of the way the whole transaction went about - very odd indeed.

Since the Freddie Mac Sales manager had emailed us direct and the listing agent had stated the listing was no longer hers, I emailed Freddie Mac again after a week to see if I could get contact information to the primary lender to try to save the deal and get our clients in the home that they truely loved.  His comment back was "I do not have time to answer questions about every property I manage.  Please do not email me again"  Obviously this is no way to conduct yourself when you are in the business of helping people, but I decided to let it lie.

Weeks passed and I checked the tax records daily to see if the home had switched hands which it never did.  About the same time the news broke that Taylor Bean & Whitaker Mortgage had fallen on hard times and had been placed on suspension (this was the primary lender)

The home in question went into Foreclosure (or into Freddie Mac's control) on 13 February 2009 and has been sitting ever since.  It was listed until May and has been in limbo ever since.  No power, no occupants - basically a statistic that is slowly deteriorating.  Looking at properties held by Freddie Mac in the Montgomery County Tennessee area, there are two others (six total) that are in the same situation.  I have to check HUD and Fannie Mae to see if I can get similar reports and will let you know.

Tonight, I emailed Freddie Mac Corporate Relations as I could not get a straight answer on the phone and no email response through other avenues to see if they were even aware this home was out there lost in the shuffle.  I hope to hear back from them soon.  Our clients are still in search of another home that meets their needs - hopefully I can get them into this property, but at the very least I hope that the home gets listed and occupied before is simply implodes.  Homes are not meant to be empty as many builders and Realtors will tell you.

If we are to fix the foreclosure issue in America, there has got to be a concerted effort by the Freddie and Fannie to get the properties moved.  Concerning themselves with a $20 - 25k loss on a single property after the citizens of the United States doled out billions for this very situation is not the answer.  We must be a part of the solution rather than part of the problem.