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Fannie Mae and Freddie Mac to lift ban on foreclosure sales

By
Real Estate Agent with Lubeck Realty Group SL675447

Fannie Mae and Freddie Mac gave the go-ahead this week to restart sales of their foreclosed properties, which had been on hold since September when it was revealed that flawed or fraudulent court documents may have been used to repossess homes. In South Florida, the move releases thousands of houses for sale that were removed from the market earlier this year.

However there are still too many unanswered questions about whether foreclosures have been handled legally. Concerns about obtaining a clear title are legitimate and buyers are encouraged in using a real estate attorney at closing on a successful offer. Fannie Mae and Freddie Mac own or guarantee about half of all U.S. mortgages, or 31 million home loans worth more than $5 trillion. About 12 percent of Fannie Mae loans in Florida are delinquent, while Freddie Mac has 17 percent of its Florida mortgages in arrears.

For more information on available foreclosed homes contact me at Don@Oneworldrealty.com

Posted by

 

Donald L. Urschalitz, P.A.

 

Realtor email-donaldurschalitz@gmail.com

 

Accredited Buyer Representative

 

Resort & Second-Home Property Specialist

 

BOD Cancer Alliance of Help and Hope

 

Palm Beach County FL

 

 

 

Lubeck Realty Group

 

1250 North Ocean Drive

 

Singer Island, FL 33404

 

p: 561-685-0976

 

website: https://durschalitz.lubeckrealtygroup.com/

 

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